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OK 511A subtraction line 15 misc. Code 99 but no number in input?

Sara-BMTOK
Level 1

I have a client who has over 30 K-1s.  On their OK 511A Lacerte put a 20 subtraction and on the related statement it says "K-1 adjustment".  When I use the jump to input field the input is blank.  The K-1 reconciliations only show a 1 difference between federal and state K-1 income.  None of the K-1s have any state adjustments or credits input.  I have no idea where Lacerte is pulling this 20 subtraction from.  Anyone have an ideas? 

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1 Comment 1
PhoebeRoberts
Level 11
Level 11

In my experience, something that says K-1 adjustment usually pertains to a prior-year carryforward, and is often some, but not all, of the proper adjustment amount.

When you get a lot of K-1s, particularly the very complicated K-1s, you kind of have to figure out the right answer and force Lacerte to get there, rather than assuming that if you key all the numbers into boxes, Lacerte will generate a completely accurate return.

 

For all of your 2018 and 2019 K-1s, you have an Oklahoma K-1 showing identical amounts in both the Federal and Oklahoma columns? I'd eyeball particularly hard the K-1 that shows a $1 difference between federal and state K-1 income, because of the -1 = 0 issue.

It's only $20, so worst case scenario, poke around until you can force it to zero.

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