IL1065-12040-2 e-file error

Error message

State IL
Severity Error
State Record IL1065-12040
Record Name NA
Form Occurrence No 0
Field Seq No 0
Page No 1
Reject Code IL1065-12040-2
Rule Number IL1065-12040-2
XML Path /ns:ReturnState/ns:ReturnDataState/ns:FormIL1065/ns:Step9/ns:InvPshipWithholding
Error Message If FormIL1065 Step 1 Line F (Inv Ptnrship) contains an X, then FormIL1065 Step 9 Line 59b must equal SchILB Section A Line 5.

Solution

Go to
Tax Forms
States
Illinois
IL-1065
IL-1065, Page 1
Step 1
Line F
.
Verify the partnership is classified as an investment partnership.
Go to
Tax Forms
States
Illinois
IL-1065
IL-1065, Page 3
Step 8
Line 59b
.
Note the amount in Line 59B.
Go to
Tax Forms
States
Illinois
Sch B-Partner Identification
Schedule B
Schedule B, Page 1
Section A
Line 5
.
Make sure
Line 5
matches what was in
Line 59B
. If you need to make a change:
Go to
Organizer
States
Illinois
State Adjustments
Net Income and Tax
Net Income and Replacement Tax section
.
Enter the amount in the
Investment Partnership Withholding (Override)
field.
Do a full recompute, then recreate the e-file.