Form 1065 Schedule K reconciliation - Recourse & non-recourse
Jan 30, 2020 · On Sch K reconciliation, TT flagged K-1 liabilities between partners must match up to total amount shown on Sch K. The only way I can resolve it is by classifying the liabilities as …
Form 1065 p4-5: Reclassify recourse debt as nonrecourse? - Intuit
Apr 14, 2022 · How can I reclassify or reallocate those? Thank you in advance for any advice. Form 1065 p4-5: Rec liabilities-End: Other liabilities The program will not recourse debt to LLC members. …
Real Estate LLC Other Liability Not Allocating to Partners - Intuit
Feb 29, 2020 · I have a small real estate LLC with 5 members. I have input our security deposits as an other liability, it is showing on our 1065 pg 4 as a non recourse loan
Schedule K-1 box K Qualified nonrecourse financing - Intuit
Feb 5, 2020 · TT populates the Qualified Nonrecourse Financing box. In the step-by-step, there is no question for recourse liabilities. If I manually enter into the 1065 Schedule L, it populates the …
I have k-1 from PTP MLP. Ending capital account is negative ... - Intuit
Jun 6, 2019 · Actually, as a Publicly-Traded Partnership (PTP) owner, you will take your capital account balance as shown on your Schedule K-1, and add it to your nonrecourse liabilities figure (also shown …
Solved: How do you change recourse debt on the Partners ... - Intuit
Feb 21, 2021 · How do you change recourse debt on the Partners Liabilities Smart worksheet - Line D (TurboTax Business) to non-recourse debt?
Partnership k-1 - Intuit
Mar 5, 2024 · Partnership k-1 we received a K-1 that has a nonrecourse loan on Part II letter K of the k-1. How do I get this into turbo tax. This liability is not on the entities books, so the smart sheet liability …
Solved: error on filing LLC return - Intuit
Feb 27, 2023 · If the partners have guaranteed the debt it should be listed as Qualified Nonrecourse Debt on the same line with Nonrecourse loans. If the debt is accrued liabilities of the company, it …
Solved: MLP at risk rules - Intuit
Mar 12, 2021 · 12K. Nonrecourse 29020 26225 Qualified nonrecourse refinancing. 0. 0 Recourse. 0 0 12 L. Beginning capital account. 3089 Capital contributed during year 0 Current income or loss. 107 …
Incorrect mapping in TurboTax Balance Sheet & K-1 Partners Share of ...
Feb 26, 2024 · I entered a long term mortgage that is a Recourse liability on the Balance Sheet section of the TurboTax Business; however, it is mapping it to Qualified Non-recourse Financing on Section …