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I have a 50/50 partnership and when i enter this in turbotax it gives me an error.It states that the total ownership has to be 100%

 
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New Member

I have a 50/50 partnership and when i enter this in turbotax it gives me an error.It states that the total ownership has to be 100%

Hi ajandke,

Is this the error message you are receiving?

There is an inconsistency with your business or rental partnership entries. If you were a sole owner, remove the percentage of partnership. If you had a partnership or co-ownership, ensure that the total ownership is equal to 100%. If you entered a GST account number, ensure that it follows the expected format (NNNNNNNNNAANNNN).

If so, review the Account Number you have provided, this is often the reason why this error message pops up. 

View solution in original post

2 Replies
New Member

I have a 50/50 partnership and when i enter this in turbotax it gives me an error.It states that the total ownership has to be 100%

Hi ajandke,

Is this the error message you are receiving?

There is an inconsistency with your business or rental partnership entries. If you were a sole owner, remove the percentage of partnership. If you had a partnership or co-ownership, ensure that the total ownership is equal to 100%. If you entered a GST account number, ensure that it follows the expected format (NNNNNNNNNAANNNN).

If so, review the Account Number you have provided, this is often the reason why this error message pops up. 

View solution in original post

New Member

I have a 50/50 partnership and when i enter this in turbotax it gives me an error.It states that the total ownership has to be 100%

I have this problem every year, and the error message is totally wrong, and if you click fix it points to the wrong field.

What WILL help is to make sure you have entered your partner's or co-owner's name and address and their percentage of ownership in the "Details of other co-owners and partners" section.

(I comment here so I can find my answer next year)