IL1120B-310-4 e-file error
* IL1120B-310-4: If Form IL-1065 Step 1 Line F (PTP) does not contain an X, then the total of all occurrences of Sch B Line Section B Col E must equal the result of Form IL-1065 Step 5 Line 35 plus Form IL-1065 Step 5 Line 26 and Form IL-1065 Step 5 Line 27 minus Form IL-1065 Step 4 Line 21.
This happens when Form IL-1065 Step 1 Line F isn't marked as classified as an investment partnership or publicly traded partnership. The total of Illinois Schedule B, column E needs to match the total in Form IL-1065, Page 2: Line 35 + Line 27 + Line 26 - Line 21.
Solution
Go to to check if Step 1, Line F (PTP) is checked. If not then do the following:
- Go to .
- On theIL-1065, Page 2tab, review Lines 35 + Line 27 + Line 26 - Line 21 and make note of the amount.
- Add Step 5, Line 35 (Base income or loss).
- Add Step 5, Line 26 (Personal service income or reasonable allowance for compensation of partners).
- Add Step 5, Line 27 (share of income distributable to a partner subject to replacement tax).
- Then minus Step 4, Line 21 (Amount of loss distributable to a partner subject to replacement tax).
- Still in the Illinois return in Tax Forms, go to theSch B-Partner Identificationfolder.
- SelectSchedule Bthen theSchedule B, Page 2tab.
- Select the hyperlink forSchedule B Summary.
- Review theTotal amount of base income/loss distributable (E)column total. This needs to match the amount from IL-1065, Page 2.
The amount for each partner for Schedule B, Column E pulls from Schedule K-1-P, Step 4, Line 20, Column B. Verify these amounts are correct. Check for overrides and verify that any allocation codes are entered correctly:
- InOrganizer, go to .
- Create a new special allocation code and enter the amounts for each partner.noteMake sure to enter the mandatory information for the allocation code and description.
- Enter the amount and allocation code you created in theTotal amount of base income (loss) distributablefield, Schedule B.
- Clear any overrides in Column E.
- Perform a full recompute, re-create the e-file, then re-submit.
If you need to override Column E:
- Go to folder.
- SelectFederal Overrides.
- In theIncome Itemssection, enter the amount and allocation code inSch B - Total amount of base income(loss) distributable.
- Do a full recompute and recreate the e-file
note
K-1 Aggregation:
If you've suppressed Schedule B partner information in , corrections will need to be made in the K-1 aggregation file and then reattached before clearing the diagnostic. If you are using a K-1 aggregation file, make sure that all your values are rounded to whole dollars. After making the changes, do a full recompute and recreate the e-file to clear the diagnostic.
