Opinion - 2023 1120S & 1065

Forum|Forum|2 years ago
January 17, 2024
4 replies
12 views

P.S. says forms (most of them) ready for print and e-file. State won't be ready for another 10 days. Question - has any one found any glaring software errors so far in the Federal 1120S or 1065? Hoping to get jump started on completing the pile but don't want to transfer too early.

ProSeries Professional

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sjrcpa

Level 15

https://accountants.intuit.com/community/proseries-tax-news-updates/discussion/schedule-k-and-schedule-k-1-code-changes/00/280632

The more I know the more I don’t know.

IRonMaN

Level 15

I transferred all of mine the other day ----------------------- but I have been known to run with scissors.

Slava Ukraini!

dascpaAuthor

Level 11

But besides the prior post of the K-1 coding differences (for early transfers) have you noticed anything else glaring?

Now with that K-1 coding issue I'll wait until after 01/19/24 to transfer so I can avoid that problem.

As Rosana Rosana Dana said (for you young people look up old SNL) "It's always something".

IRonMaN

Level 15

@Jim-from-Ohio must have at least a couple of dozen done by now, maybe he can enlighten you more.

Slava Ukraini!

J

Jazzy

Level 2

Today I entered 2023 expense amounts for a Form 1065. The software overrode my entries with the 2022 amounts. Some other minor glitches. Perhaps of interest: I had to file a 1065 X for this client for 2022. Maybe that is causing the issue. Anybody else having problems?

dascpaAuthor

Level 11

Completed roughly 40 business returns. The glitch you mentioned has not happened with me. "Lots of other glitches" - not specific enough to reply to.

M

msmith7305

Level 6

I posted this a few weeks ago. Don't know if it has been fixed or if it even applies to you.

"I know it's early but wanted to throw this out in case IntuitGabi is on the board.

When transferred from 2022 to 2023, the program is allocating total amount of loans from shareholders (as per balance sheet) by stock ownership percentage to each shareholder K-1 instead of the actual amount of ending shareholder loan as stated on the prior year K-1."

Hopefully a fix is coming..

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