Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

16
Posts
3
Votes
Isabel Owen
  • San Antonio, TX
3
Votes |
16
Posts

TurboTax Business, Schedules L and M-1

Isabel Owen
  • San Antonio, TX
Posted

Using TurboTax Business to do my taxes, and it has been great besides this one issue preventing me from e-filing. On form 1065 Schedule B, the instructions state that you do NOT need to complete schedules L, M-1, or Item L on Schedule K-1 if you satisfy all four conditions of Line 6, which is true for us. However, the TurboTax program is still forcing numbers into Schedules L and M-1 which creates an error telling me it is out of balance by the amount of our loss for the year. Due to this error, it does not let me e-file, nor does it allow me to manually clear out those fields. Does anyone have experience with how to get the program to leave these sections blank when they should be? Thanks!

Loading replies...