K-1 conflicting data for Box 17 and questionable calculations by TurboTax

[frey1esm]

 I received an amended K-1 from a partnership that is taking advantage of solar energy credits. There are two different entries for Box 17 code AC

1. Box 17, Other Information, Code AC Expenditures/Basis Qualifying for Investment Credit (Form 3468)

Basis of Property Using Solar Energy (3568, Line 12b) ......$12,345

2. Box 17 * Descriptive Information, AC Excess Taxable Income ....$234,567

But there's also code AA Excess Taxable Income with a different amount than #2 above.

How do I handle AA and AC then as far as calculating the correct tax credit/refund?

Finally, Box 17 code U says, "Consult your tax advisor regarding this ...$234,567"

How does TurboTax handle these entries? There is no calculation for AC and my refund is much higher than other partners with same ownership %.

[PatriciaV]

The advice to consult a tax advisor is correct. Form 1120-S Schedule K-1 Box 17 Codes AA and AC both relate to Business Interest Expense limitations on Form 8990. Considering the size of the Excess Taxable Income, your best option is to file an extension now and seek help from a local tax professional.