Tax-exempt amount does not equal the total entered on Schedule K-1?

Forum|Forum|6 years ago
February 27, 2020
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KathrynG3

If you are seeing a tax-exempt total in the income area, the total entered on Schedule K-1 may be combining with input from other Schedule K-1's, or Interest or Dividends that were reported separately.

Please reply to this post if the issue is still unresolved.

@carcox71

jh123

I am experiencing the error where the Tax Exempt amount does not equal the amount entered on Schedule K-1 error. In short the error is still unresolved.

KathrynG3

Ok. It would be helpful to have a TurboTax ".tax2019" file that is experiencing this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:

For TurboTax Online:

From the left menu, click Tax Tools>
Tools>
Share my file with agent click send
There will be a pop-up with a token number

For TurboTax Desktop:

On your menu bar at the very top, click "Online">
Send Tax File to Agent click send
The pop-up will have a token number

I'll be able to open TurboTax with your numbers but not your personal information. That may help diagnose the issue.

tmartinbell

So I resolved this issue today 4/10/2025

Go back to your K-1 entry for Box 18
For Box 18 once you enter all the info from the K-1, the next screen asks to list the state that paid the (keyword) tax-exempt interest income. Only enter the State and amount for code A. Don't enter anything else.
This will clear up the error.
It doesn't want the state for any other codes, just A.

I had A, B, and C with amounts. The next Screen only enter the state and the amount.

Code B and C are not Tax-exempt interest income amounts.

B is tax-exempt income - this is different from tax exempt interest income