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- Form 1065 K-1 Line 16
Form 1065 K-1 Line 16
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pls
Level 3
01-28-2021
10:20 AM
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Form 1065 K-1 Line 16, Foreign Transactions - it is filling in codes AA - AD, which are gross receipts for the current and preceding 3 years for this partner, who is a corporation. There is no foreign income for this partnership and this partner is not foreign. Why is it filling this in? Is there a way to fix it?
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kenzcpa
Level 2
01-29-2021
11:02 AM
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I am having this problem also with K-1 partner # 2 on each partnership return I have prepared!
I reported this to Lacerte a week ago with a tech assistant on the phone who could not understand
it either. Yesterday I spent 45 min on hold to report it again but Hung up.
This is a serious matter and needs a software fix by Lacerte ASAP!
