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Level 1
June 3, 2022

10701

  • June 3, 2022
  • 2 replies
  • 28 views

The following diagnostic is generating:

Partnership # {PrefixNum} : AMT prior year basis loss carryovers are not entered. The program will assume the AMT basis carryovers are zero and compute a corresponding AMT difference.

Solution:

Click the diagnostic from the Diagnostics tab and enter the AMT Ordinary loss in the AMT Tax Basis Carryovers section.

Or navigate to Income>Screen 20 Passthrough K-1s>Partnership information.

Scroll to AMT Tax Basis Carryovers and enter the amount in AMT Ordinary loss.

Critically informational, won't prevent e-file transmission.
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2 replies

Level 2
April 9, 2024

How do I resolve this diagnostics

sjrcpa
Level 15
April 9, 2024

If it is correct, nothing to do. If it's not, enter the AMT basis carryover(s).

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