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Basis computation of partnership K1 on individual module

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Basis computation of partnership K1 on individual module

Laura Rose

In the individual module, the Basis Computation for the partnership activity has 2 errors that could easily be fixed:

1) Federal basis is not reduced by 13W deductions if put in the portfolio expense {CA only} (screen 20 code 226) - I have to enter as an adjustment to basis then add back for CA purposes

2) CA is getting reduced twice by foreign taxes paid - once from the foreign tax input and then again in nondeductible expenses reported on CA K1 line 18c (screen 20 code 359) I have to add back to CA basis due to the double entry.

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