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September 5, 2024
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General Partner Error on form 1065

Related products:ProSeries
  • September 5, 2024
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In Partnership return 1065, On Pg 5-6 , Under Analysis of Net Income (Loss) per Return - Amounts are shown under Limited Partners Column, even though on K-1 of each partner is marked as General Partner. This needs to be fixed because amounts are shown under incorrect column. The amounts should be shown under General Partner column. 

The reason I know it is flowing to wrong column is because when you uncheck General partner on K-1 worksheet, the amount automatically flows to General Partner, But a box needs to be checked on K-1, otherwise proseries will shown it as an error.