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I have a final K-1. When running Federal Final Review, the error pops up to complete the Addt'l Info K-1 page for Box20, code L, when there is no input on Box 20. The Partnership stopped operations, terminated with the State, with no assets/liabilities. There is no sale or exchange. Is there a way around this Addt'l Page in order to e-file?
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Anytime a partnership K-1 is marked Final it will ask about disposal info on that Page 2. Isnt Page 2 asking about disposition?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Yes, but the questions ask if disposition is fully taxable, and what sales price and when was the LLC was purchased, which are not applicable. The LLC ceased operations, and it has no assets or liabilities. The questions are not applicable on pg 2 and that is what is confusing me. Is there a work around? or do i file a paper copy? Thanks.
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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there is a small basis $1k, so i put that on line 7, and that carries forward to other schedules? And so i check box 1a and continue with the rest of that page? Thanks.
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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ok, thanks for your help!