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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Getting a critical diagnostic ref 599223. A trusts gets a K-1 with other deductions in line 13W. The discription PTE Elective Tax. It causes the diagnostic
Getting a critical diagnostic ref 599223. A trusts gets a K-1 with other deductions in line 13W. The discription PTE Elective Tax. It causes the diagnostic
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josh3
Level 1
10-16-2023
02:33 PM
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Can the entry be over ridden?
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IntuitAlicia
Employee
10-16-2023
03:49 PM
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@josh3 I believe the reference number provided is incorrect. I was able to locate ref. 59223 which discusses:
When a passive Passthrough K-1 activity contains more than one of the following, these items will be combined and may not be reported on the correct lines of the beneficiary's Schedule K-1: Ordinary Income, Rental Real Estate Income, Other Rental Income, Other Income and Deductions - Passive. To avoid this, these items should each be reported separately on their own Passthrough K-1 activity.
The diagnostic is critical informational, it's important you're aware of it and that you know your options. If you choose not to address it, you can check the box on the diagnostic to strike it out and consider it as having been reviewed.
It should not prevent you from e-filing.
Please follow up if this is not the diagnostic you're referring to.
