F355U-499 e-file error
You get this error when the Form 355U, Schedule A, line 33 Total Liabilities, and Capital amount is calculated incorrectly.
Error message
The Form 355U, Schedule A, Line 33, Total Liabilities and Capital amount has been calculated incorrectly.
Solution
- In the member returns, remove negative amounts from Schedule A and Schedule B and replace them with “NONE.” The following lines can't be negative:
- Schedule A, line 5a
- Schedule A, line 10
- Schedule A, line 12a
- Schedule A, line 18
- Schedule B, line 10
- Remove any entries from Schedule A or Schedule B in the eliminations locator/binder.
- Make adjustments in other returns as needed to reach the correct totals.
- After removing the negative amounts, re-consolidate the return twice.
- Create a new e-file and resubmit the return.
