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Level 1
July 10, 2020
Question

On Form 1065, Schd B, Line 3b, the program should not list partnerships with % ownership less than 20%. It erroneously lists them. How do I fix/override this?

  • July 10, 2020
  • 1 reply
  • 4 views
I have clearly shown ownership in these partnerships as less than 5%.  On the Other Information, Schedule B, I DO NOT list them.  However, the program insists on putting them on the Form 1065 under B/3b for partnerships owned MORE than 20%.
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1 reply

George4Tacks
Level 15
July 11, 2020

Did you input these partners in the Other Information (Schedule B)  dropdown? If so, delete that input. Look at the NOTE: at the top of that input. 

If this is not the solution, you should contact support. 

Answers are easy. Questions are hard!