K1 information

Forum|Forum|4 years ago
April 2, 2022
1 reply
4 views

I am trying to file my 2021 fed and state returns. TT performs a final check before transmitting my returns.

I entered the information on the K1, because it would not import directly into TT. During this final check, TT insists my entries do not add up.

"Schedule K1 partnership additional info 1. other deductions code W line 1 and other items in this section add to a total of 123. This total exceeds the schedule K1 entry for code W of 32. Please review and correct your entries."

If I change the code W entry to 123, TT reports that the entry for code W exceeds the code entry of 246. Is there some way to bypass this information and send the returns with the original information I have entered? I have been filing with TT for many years and this has never been a problem.

PatriciaV

Level 15

Please review your entries for Schedule K-1 Box 13. Select Code W, but delete any number you entered (the amount box should be blank). Then when asked for more information from Code W, enter the amount for each line item for this code..

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"