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Level 2
posted Oct 14, 2022 8:59:28 AM

S.E. retirement deduction connected to this business is wrong

I have retirement contributions that were reported to me in box 13R of schedule K-1 (form 1065) which I entered into Turbotax. When I switch to forms mode and go to the K-1 under section D2 line E.5.e "S.E. retirement deduction connected to this business" it doesn't match what I entered for box 13R. It seems that Turbotax has attributed some of this retirement contribution to my sole proprietorship on Schedule C on the QBI Deduction Smart Worksheet line E.5.e "S.E. retirement deduction connected to this business". Why does it think that the retirement deduction that was reported to me on my K-1 for my partnership would be connected to my sole proprietorship?

0 2 394
2 Replies
Level 15
Oct 14, 2022 10:16:31 AM
Level 15
Oct 14, 2022 11:55:33 AM

13r requires entry of the type of retirement plan with the amount (code R detail worksheet - interview mode).  this should then flow to the Keogh, SEP and Simple contribution worksheet where additional detail may need to be entered (self-employed retirement plan worksheet).

 

 

 

since i have a different version of Turbotax you may need to  contact support since we can't see your return on this forum.