1065 - K-1 Worksheet - Disregarded Entity

[dascpa]

New format this year from P.S..

If I enter DE and add in entity name, then in DE section enter the member's name and SSN it comes out in an EIN format xx-xxxxxxx.

If I enter individual's name instead, it asks for Entity Name. Any way I enter it keeps showing the dreaded pink/red error bar.

What is correct method - and yes - I could just put in I for individual and leave off DE entirely but member wants it in their EIN, not SSN.

[qbteachmt]

"but member wants it in their EIN, not SSN"

What sort of disregarded entity is this? How many members are there?

[dascpa]

One, otherwise it wouldn't be a disregarded entity.

[qbteachmt]

Then how is it going to be filed on 1065, which is for partnership? Just trying to think through the details.

[dascpa]

A multi-member LLC filing a 1065 has two members. One is an individual.  The other is an individual with a disregarded entity. The K-1 Worksheet has changed from prior years. If an individual you mark I and put in their name and SSN. If a disregarded entity you put in DE and put in the entity name and EIN. But on the right of the worksheet it asks for the DE name and DE EIN. It won't accept it twice. So if you change it to put in the individuals name it formats it as an EIN, not their SSN. No matter which way you switch it error messages pop up.

Bottom line since it's March 31st I put it in as an individual and their SSN. Told the client since it's disregarded whether it's in their SSN or EIN it all ends up with the same result on their 1040. Don't have time to play with P.S. on this.

[qbteachmt]

Thanks. I try to follow inconsistencies like that, for reference. I was struggling with source and target names.

[Just-Lisa-Now-]

If its an SMLLC it goes on his 1040, why would he need the EIN on it?

[sjrcpa]

He's preparing the K-1. When you have a disregarded owner the K-1 is supposed to show the disregarded entity name and EIN and the owner's name and SSN.

[dascpa]

Agreeing with sjrcpa. In addition, the legal documents show the LLC name and the LLC EIN. In the end, it's all the same, but P.S. is making it difficult. 

[sjrcpa]

At this point at this date I'd give up like you did, too. After April 15 maybe you'll find the magic combination that makes this work.