My LLC Co has a large loss which passes through to Partners on Federal return. When TT transfers the K1 amounts from the Federal Return/ K1 to the VA state return, it treats it as a gain. So, despite losing money, it says we have 200k in income and owe VA a huge amount of money.
Should I just override the info on my state return?
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For business:
It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue.
You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:
At the top menu in the black line at the top of the page go to Online.
We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.
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