Problem in tax software

DONALD TIPPIT on

There appears to be a problem in our club's federal and CA tax returns.

On the federal 1065 page 4 line 6a, our dividend income in correctly listed as $337. On line 20a the investment income listed as $336.

On the CA 565 the capital gains losses are divided among our 12 members. Half the members show total loss of -$128 on their individual K-1, side 2, lines 8 and 9 and -$128 on side 4 under table 1 capital gains/losses. The other members show -$127 on on side 2, lines 8 and 9 while showing -$128 on side 4 under table 1 capital gains/losses.

Have any other clubs experienced that problem and how should it be corrected? Is it acceptable to manually change in incorrect amounts on the pages involved?

Pat Tippit

Laurie Frederiksen on

Hi,

You need to send issues like this to support@bivio.com, not to Club Cafe.

We need to look at your club records and discuss what we see there with you to figure out your issue. That is not something that we will discuss on a public forum like this one is.

Laurie Frederiksen
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On Tue, Feb 28, 2017 at 2:08 PM, DONALD TIPPIT <ptippit@bellsouth.net> wrote:

There appears to be a problem in our club's federal and CA tax returns.

On the federal 1065 page 4 line 6a, our dividend income in correctly listed as $337. On line 20a the investment income listed as $336.

On the CA 565 the capital gains losses are divided among our 12 members. Half the members show total loss of -$128 on their individual K-1, side 2, lines 8 and 9 and -$128 on side 4 under table 1 capital gains/losses. The other members show -$127 on on side 2, lines 8 and 9 while showing -$128 on side 4 under table 1 capital gains/losses.

Have any other clubs experienced that problem and how should it be corrected? Is it acceptable to manually change in incorrect amounts on the pages involved?

Pat Tippit

Bob Hooper on

Just a quick follow-up to Pat Tippit's observation that there is a $1.00 discrepancy between the amounts on Form 1065 page 4 line 6a and line 20a.

Our club also has a $1.00 discrepancy between those line items.

Should the entries on lines 6a and 20a be the same amounts?

Thanks,

Bob Hooper

On Tue, Feb 28, 2017 at 2:08 PM, DONALD TIPPIT <ptippit@bellsouth.net> wrote:

There appears to be a problem in our club's federal and CA tax returns.

On the federal 1065 page 4 line 6a, our dividend income in correctly listed as $337. On line 20a the investment income listed as $336.

Have any other clubs experienced that problem and how should it be corrected? Is it acceptable to manually change in incorrect amounts on the pages involved?

Pat Tippit

Laurie Frederiksen on

Interest is added to the 6A number. It may not show on the Schedule K if it has rounded to 0, but when it is added to the raw dividend amount, it might round the total up.

On Tue, Feb 28, 2017 at 6:05 PM, Bob Hooper <Amigos4@comcast.net> wrote:

Just a quick follow-up to Pat Tippit's observation that there is a $1.00 discrepancy between the amounts on Form 1065 page 4 line 6a and line 20a.

Our club also has a $1.00 discrepancy between those line items.

Should the entries on lines 6a and 20a be the same amounts?

Thanks,

Bob Hooper

On Tue, Feb 28, 2017 at 2:08 PM, DONALD TIPPIT <ptippit@bellsouth.net> wrote:

There appears to be a problem in our club's federal and CA tax returns.

On the federal 1065 page 4 line 6a, our dividend income in correctly listed as $337. On line 20a the investment income listed as $336.

Have any other clubs experienced that problem and how should it be corrected? Is it acceptable to manually change in incorrect amounts on the pages involved?

Pat Tippit

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