Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- error message "liabilities on balance sheet do not equal liabilities per the smart worksheet recourse debt, etc.
error message "liabilities on balance sheet do not equal liabilities per the smart worksheet recourse debt, etc.
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
oldsheldon
Level 2
07-20-2024
12:09 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
my client, partnership A, is a partner in partnership B. that investment is the sole asset of A. a has no other assets nor liabilities. A is a limited partner in B
B has liabilities which are passed onto the k-1 issued to A.
A's balance sheet has no liabilities, which is correct.
proseries seems to be trying to match the smart worksheet to the balance sheet, which makes no sense in this case. it is triggering an error message which i believe will bounce the return if i try to e file it.
i do have the box checked on each partners k-1 worksheet to the effect that liabilities are coming from a lower tier partnership.
two calls and 1.5 hours with proseries help could not resolve this. old sheldon.
Labels
