Employee
04-13-2023
11:08 AM
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VAAcct434,
Can you help me understand your scenario a bit more in order for us to diagnosis the issue?
My gut is that there may be some issue related to the profit/loss/owner % that are transferring down to the VA VK-1 Worksheet from the federal return. Federal allows for up to 5 decimal places in these fields while VA limits it to 2 decimal places. That transfer and rounding can cause quirks.
Example would be a partnership with 2 partners on federal. Partner #1 is a 99.99999% owner while Partner #2 is 0.00001% owner. When that data transfers down to VA, it will get rounded to be 100.00% for Partner #1 and 0.00% for Partner #2.
Look forward to hearing about your specific issue more in order to help you find a solution.