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Level 2
posted Apr 2, 2022 6:58:43 AM

K-1 TT Bug in form

I do K-1s ever year.  To complete the form I must manually add numbers to the K 1 form itself.  One of the parts of that form is "partner's capital account analysis".  In that section we start with last year's ending balance  and arrive at a new balance going forward.  To do that, you must subtract "withdrawals and distributions".   This number is subtracted.  This year TT is adding the number you enter and it will not accept a negative.  Bug.  Any fix or workaround?

0 2 293
2 Replies
Expert Alumni
Apr 2, 2022 8:27:26 AM

Please clarify which version of TurboTax you are using, what type of Schedule K-1 you are entering (1065 or 1120S), and where you are entering the Capital Balance information.

Level 2
Apr 2, 2022 9:23:59 AM

I cant explain but as I log in this morning the form is behaving properly.   Thanks.  Issued resolved