We have an LLC setup as 90/10 ownership with 50/50 profit loss. (TurboTax Business 2022)
Turbotax returns an error saying that the total profit/loss is 140%. I indicated that the percentage of ownership differs from percentage of profit/loss, yet Turbotax still insists it's 140%. Any insight?
You most likely need to indicate that the LLC makes special allocations.
Business Info tab >> About Your Business >> Makes special allocations
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