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1065 e-file errors

SCHK2K3-013 e-file error

If [SchedulesK2K3Section743bBasisAdjustmentsStatement] is present in the return, then it must be referenced from one and only one of the following: Schedule K-2 (Form 1065) or Schedule K-3 (Form 1065) or Schedule K-2 (Form 8865) or Schedule K-3 (Form 8865).

Solution

  1. Go to
    Organizer
    , then
    Foreign Information
    .
  2. Select
    Ptr Distributive Share-International
    , then
    Other Tax Information-III
    .
  3. Review each asset entered in
    Sec 743(b) Basis Adj for Pos Inc Adj
     and/or
    Sec 743(b) Basis Adj for Neg Inc Adj
    . Only assets from outside of the United States should be entered.
  4. For any assets where the source of income is from the United States:
    1. Remove the amounts from here.
    2. Go to
      Other Tax Information
      , also in the
      Other Tax Information-III
       folder.
    3. Enter the amounts in the
      U.S. source
       fields for either section
      A- Section 743(b) Positive Income Adjustment
       or
      B- Section 743(b) Negative Income Adjustment
  5. This transfers to Schedule K-2, Page 8, Part III, Section 5.
  6. Perform a full recompute and recreate the Federal e-file.

This article applies to:

  • Product: GoSystem Tax RS
  • Return type: 1065 Partnership
  • State: California, Connecticut
  • Subject: e-file
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