I have a client filing his personal taxes and he has a schedule K-1 from a partnership he owns with another guy with the amount of $12,000 in Box 13 with a code of R next to it. When I try to enter the info in his personal taxes in ProConnect (under Passthrough K-1's, Partnership info), codes only go to Q and there is no code R. This is the SEP IRA that partnership contributed on behalf of him (a partner). How can I enter this amount in his personal tax return since it could not be deducted from partnership income because it was contributed for a partner?
https://proconnect.intuit.com/community/schedule-k-1/help/partnership-k-1-input-box-13/00/4779 would be helpful, BUT since box 10 is blank, it indicates a problem at the partnership level. https://www.irs.gov/retirement-plans/retirement-plan-faqs-regarding-contributions-what-is-a-partners...
Is box 1 positive or negative?
Is box 4a positive?