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Level 4
April 11, 2023
Solved

K-1 Partnership

  • April 11, 2023
  • 1 reply
  • 14 views

Husband and wife partnership with 2 rental properties which were sold in 2022.  Final 1065 was filed.  When entering the K-1 for each on the personal MFJ return I have checked box in Part II of the K-1 indicating final return/partnership was discontinued during 2022.  I now have an error message on K1-P additional information asking me to check a box in Part II.  None of those options apply.  How do I get pass this error.

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Best answer by IRonMaN

Enter zeroes

1 reply

IRonMaN
Level 15
April 11, 2023

Check one of the boxes.

Slava Ukraini!
Level 4
April 11, 2023

If I check one of those boxes it than forces me to enter the disposed of an acquired dates,  not an issue.  But it also forces me to enter a sales price, basis and gain or loss.  Gain and loss from the sale of the rentals is already is on the return due to entry's from the K-1.

IRonMaN
IRonMaNAnswer
Level 15
April 11, 2023

Enter zeroes

Slava Ukraini!