K1 Aggregator | Green Checkmark Formula

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Question:

Where can I find details for the K-1 income 'green checkbox' formula to better understand how all the income items tie out?

Answer:

The checkmark is validated by looking at the following:

• General Information, Part II, Box L 'Current year net income/loss'
• Data from Federal/State taxable income tab

Formula for the green check

• 'Current year net income/loss' = [Taxable income +18A + 18B - 18C - 11F + 13V]
  • You can opt to include Line 21, Foreign Taxes, in the calculation also by checking the checkbox on the investment(s)
    

The checkmark is a guide, not a requirement. You can be confident that your data is accurate when you do see the green checkmark. Not seeing the green checkmark simply indicates that you should review your data, it does not indicate that the data is wrong.

Tips:

• Regularly save your work and verify changes before refreshing or navigating away from the page.
• Document any recurring issues with screenshots and detailed descriptions to assist technical support.

For further assistance, contact the K1x Support Team by clicking on the "Get Help" button on our apps or in our Help Center.

Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

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