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New Member
posted Mar 25, 2019 9:49:22 AM

K-1 Part 3 line 1

Hello I co-own a small business that did about $16,300 in sales for 2018. Our COGS and expenses were $16,600, so our P&L shows a loss of about $310. I imported my quickbooks and sorted the expenses and costs in turbotax and yet my K1 is saying I made $8,102 which I did not. How do I trouble shoot why turbotax did not properly subtract my expenses and COGS from income to show ($310) instead of $8,102.

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1 Replies
Returning Member
Mar 25, 2019 3:18:34 PM

I suggest deleting your K-1 form, saving your return under a different name, closing Turbotax,  and then reopening the return saved under the new name.