Discussion:"Must fix" error in PS - not for everyone
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Discussion Forum Index --> Tax Questions --> "Must fix" error in PS - not for everyone
| 14 April 2007 | |
| Sometimes I'd like to choke whoever comes up with these unbelievably obscure and impossible to apply tax laws. Never had this before and would guarantee I'll never see it again. S corp K-1 that has just about every code in every box, with Foreign Transactions. Box 14, Code B brings up "must fix" error message and to "Use separate K-1 worksheets to report more than one type of foreign gross income sourced at the entity level" even though there is only one type of foreign gross income. Quick Zoom takes you to a place to enter gross income, etc. sourced at shareholder level, there is none. I can't figure out how to get rid of this 'critical' error. I'm tempted just to leave this completely off. BTW, there are no foreign taxes involved. | |
Death&Taxes (talk|edits) said: | 14 April 2007 |
| This usually is caused by either having passive income and general limitation income mixed in the same information, or having Code M, taxes accrued but where an earlier 1116, caused by perhaps a dividend payment, shows tax paid, not accrued. I am not sure I am making myself clear either, but these messages pop up all the time. Dennis' point is another problem. Tell you what. Is there any foreign tax listed as code L or M? If not, and there is no foreign tax on the return, why post it? Especially on April 14th!!!!! | |
| 14 April 2007 | |
| Thank you, thank you, thank you. Dennis, I did try that and the error message remained. I reviewed the AGI and the tax liability with and without this information and it made no difference whatsoever. I figured w/o any foreign tax (and I don't think I've ever reported accrued FT) there would be no impact. I took it all off and the errors are gone! I didn't expect any response to this and sooooo quick. You guys are great! | |
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