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steveall12
Returning Member

Turbo Tax Business not recognizing partnership percentage

In the "Partner/Membership Information" screens, even though the two partners are entered as 50% ownership and the result shows 100%, when "Continue" is pressed, a screen comes up saying "Total Percentage is less than 100%" with options to "Review Member Entries" or "Correct Later"

It will allow you to move forward if you select "Correct Later", but there is no where else to correct later, it will not get through the "Federal Review", and it will not file when you have completed.

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1 Reply
PatriciaV
Employee Tax Expert

Turbo Tax Business not recognizing partnership percentage

You may wish to review the actual numbers appearing on the Schedule K-1 Worksheet in Forms Mode

 

  1. Click Forms in the TurboTax header.
  2. Find "Sch K-1 Wks" in the left column and click the form name to open it in the large window.
  3. Scroll down to the bottom of the worksheet to Total for all Schedules K-1. While you can't change the totals shown here, you may be able to see where you need to make adjustments.

This form has an embedded navigation bar on the right side to move between partners. Percentages appear at the top right column of each partner. You can manually change the numbers to bring the total to exactly 100.00000.

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