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1065 efiling error with ATX


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General Partnership (2 partners - sisters) with 7 Rental properties and 1 addition property use for personal use, home office and to handle property management and garage use to store misc material and tools for Repair and maintenance of rental properties.

7 Rental properties have been added to Form 8825 listing all related expenses and depreciation.

Additional property used 50% for personal and 50% for other business and rental properties related items was listed to add to form 1065 for depreciation purposes and to add the Value on the Balance sheet portion Schedule L1. K1 was generated showing  loss due to the deprecion on “additional property” “1. Oridinary Business Income(loss) = (2k) “, 2. net rental real estate income (loss) 1k, and 14. Self employment earnings (2k)

i tried to due efile but get the following efiling error 

If checkbox “ThreeandOnehalfPctGroIncmTxlnd“ is checked then Form 1065 line 22 “threeandOneHalfPercentAmt” must have a non zero value. 

Current amount is ($4k) due to depreciation which show up on the 2 partners K-1 as (2k) for line 1 and 14 of K-1.

 

Pls Advise, on what needs to be corrected.

I appreciate the help and thank you in advance. 

Pat

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General Partnership (2 partners - sisters) with 7 Rental properties and 1 addition property use for personal use, home office and to handle property management and garage use to store misc material and tools for Repair and maintenance of rental properties.

7 Rental properties have been added to Form 8825 listing all related expenses and depreciation.

Additional property used 50% for personal and 50% for other business and rental properties related items was listed to add to form 1065 for depreciation purposes and to add the Value on the Balance sheet portion Schedule L1. K1 was generated showing  loss due to the deprecion on “additional property” “1. Oridinary Business Income(loss) = (2k) “, 2. net rental real estate income (loss) 1k, and 14. Self employment earnings (2k)

i tried to due efile but get the following efiling error 

If checkbox “ThreeandOnehalfPctGroIncmTxlnd“ is checked then Form 1065 line 22 “threeandOneHalfPercentAmt” must have a non zero value. 

Current amount is ($4k) due to depreciation which show up on the 2 partners K-1 as (2k) for line 1 and 14 of K-1.

 

Pls Advise, on what needs to be corrected.

 I appreciate the help and thank you in advance. 

Pat

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