1065 ending k1 % totals more than 100%

[CPA17]

While retiring some of the partners from 1065, it calculates more than 100% as ending k-1 %. 

Is this correct? 

[PhilG_CPA]

No. Are the retired partners ending P/L/O percentages all zero? Double check that they're all zeroed out. If you still have >100% allocation at YE, double check math on the remaining partners for the percentages they picked up when the exiting partners left.

[CPA17]

Hi. thanks for the response. 

Here is the issue. I am retiring few partners from partnership at the year end (12/30/19). for example, if partner A owns 10% at the beginning of the year, he owns 0% on 12/30/19 and I am also marking it as final K-1. Now the pro-series is asking about Intl/Fnl %. This is where the issue is. for this box, it is asking me to put % of ownership just before the partner's termination (exiting partner) and % of ownership just after the admission (new partner). so, if partner A (owning 10%) leaves, I still have to enter 10% as Intl/Fnl% and if partner B is joining the partnership then it's asking me to enter 10% for him as well (% of share right after his admission). 

$$ amounts are correctly distributed via Weighted Average method. it's just ending % of profit, loss and ownership is the one, which is not making sense to me. Pro-series is not showing any errors! I have zeroed out capital accounts for exiting partners. 

[CPA17]

Hi there. 

Let me ask you one question. What do you enter as an Ending Share of P/L/O %.

The problem is, calculated weighted avg. % doesn't transfer to Column J of K-1. Is there a way you can manually change this? 

[sbestsantabarbar]

Did you ever get this resolved?  I am having the same issue.  One partner left and a new one came in, so it wants me to enter % of ownership just before the one partner left and just before the other joined, however then the K-1 form do not show the correct ending (for partner leaving) and beginning balance (for new partner).

Is it possible to just override the warning and efile anyway?

I did manually calculate the K-1 amounts for each partner, so those are correct and are not an issue with showing an error.