Form 1065,Balance Sheet: Other Liabilities Discrepancy

[clowmanagement]

I started using TT last year for our partnership. I have to enter Balance Sheet information. Last year I entered our renter's security deposit as a "Other Liability", which seemed properly allocated. The liability seemed properly split among the partners as a non-recourse liability. This year I have done exactly the same thing but there is a discrepancy. 

For 2024 I enter the security deposit amount in the form "Enter Your Liabilities and Capital" quick entry form, with a starting amount and an equal ending amount. But I fail the audit because TT populates the previous amount as a non-recourse liability, but shows the current balance as a recourse liability. I can't seem to override this in the worksheet.  Has anyone else had issues when trying to enter balance sheet info with "Other Liabilities" that carry over from previous years?

[HudsonPartners]

Here is what the entry and error look like;

EntryEntryErrError

Error above

[PatriciaV]

Note that if you click the Errors icon above "Forms in My Return," a footer will open under the open form to display more information about the error highlighted in red.

We have tested these entries but are unable to reproduce the experience you have seen. It would be helpful to have TurboTax files from both 2023 and 2024 to test this issue further.

If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions: 

In TurboTax Business, open your return and go to Online in the TurboTax header. (On a Mac computer, choose Share or Help.) Do this for both 2023 & 2024.

1. Choose Send Tax File to Agent.
2. You will see a message explaining what the diagnostic copy is.  Click Send on this screen and wait for the Token number to appear.
3. Reply to this thread with a screenshot of your Token number (this avoids Community filters for numbers with a dash) and tag (@) the Expert requesting the token from you.
4. Please include any States that are part of your return - this is VERY important.

We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution. 

[HudsonPartners]

I did send the 2023 and 2024 data. I hope there is some easy solution.

[PatriciaV]

Please clarify where/how you sent the 2023 & 2024 files. They don't appear in this thread.

@HudsonPartners 

[HudsonPartners]

I dumped the data again today"

2024 File = [phone number removed][phone number removed]7

2023 File = [phone number removed][phone number removed]5

Both are State of Georgia based

[HudsonPartners]

Looks like the numbers were masked in my response. Let me know if I need to send the identifiers in some different way.

[HudsonPartners]

Ok... reading the instructions helps. I have pictures of the dump data below. Again, both Georgia:

2024

2023

[HudsonPartners]

For fun, I created a new tax file and reloaded/reentered all my data. The discrepancy with treatment of the "Other Liabilities" still exists.