SCHK2K3-013 e-file error
This occurs when the Sec 743(b) basis adjustments statement includes assets whose income source isn't foreign, so the statement can't be properly referenced from Schedule K-2 or Schedule K-3.
Error message
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
- Go to .
- SelectPtr Distributive Share-International, thenOther Tax Information-III.
- Review each asset entered inSec 743(b) Basis Adj for Pos Inc Adjand/orSec 743(b) Basis Adj for Neg Inc Adj. Only enter assets from outside of the United States.
- For any assets whose income source is the United States:
- Remove the amounts from these fields.
- Go toOther Tax Information, also in theOther Tax Information-IIIfolder.
- Enter the amounts in theU.S. sourcefields for eitherA- Section 743(b) Positive Income AdjustmentorB- Section 743(b) Negative Income Adjustment
- The amounts transfer to Schedule K-2, Page 8, Part III, Section 5.
- Do a full recompute, then recreate the e-file.
