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- why the special allocation guaranteed amount don't flow into schedule k-1
why the special allocation guaranteed amount don't flow into schedule k-1
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ginayancpa
Level 1
02-08-2021
12:17 PM
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I entered the guaranteed payment amount for capital use on sch-k-1 worksheet, but the amount can't be flowed into the individual schedule k-1.
also, the guaranteed payment can't flow into sch k reconcile (lines 1 thru 17a).
The third question is, we selected to allocate the profit by special allocation amount, and enter the special allocation amount into schedule k-1 worksheet, but this special allocation can't be flow into individual schedule k-1 forms which still showing the amount by ownership percentage.
We didn't have all of these problems in year 2019 tax return. is this because the 2020 software not ready yet? somebody catch these problem yet?
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1 Comment 1
renee
Level 1
03-22-2021
12:18 PM
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Isn't this a f-ing mess. I am now set up to received a phone call back - it will be over an hour and they will call me twice - if I don't pick up, then I am out of luck again.
My client is not happy sitting here waiting for the answer. How about you????
