huskies2014
Level 2
01-27-2021
02:34 PM
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Thank you for your courtesy.
This is an S corporation return. The aggregate amounts showing in Box 17AC of the Schedules K-1 tie to gross receipts on Page 1, Form 1120S. But I don't know why they appear there in the first place. In the IRS instructions for Box 17AC, there are a number of references to obscure situations, none of which apply, in addition to "gross farming and fishing income", which does have a line in the K-1 input screen for Box 17AC. But this is not a farming or fishing entity. I double-checked the NAICS code, but it's correctly shown as the service business that it is.