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K-1 - I am getting an error saying lines 8-12 losses cannot

Customer Question

K-1 for 1065- I am getting an error saying lines 8-12 losses cannot be more than lines 1-4. What do I do with it?
Submitted: 1 year ago.
Category: Financial Software
Expert:  Anne replied 1 year ago.

Hi Barbara

I'm Anne. I've been preparing taxes for 27 years and I'll be happy to help you.

Can you please give me some additional information. What is the Partnership for? (ex: rental property, or just 2 people going into business together,)

What lines and $ amounts do you have on the K1........