Mark Jaggers wrote:

- quote -

It has to do with farm income averaging. Odds are, it
doesn't apply to you and should be blank. No idea how you
convinced the software to put a number there, but I suspect
GIGO is your problem.

- quote -

You're doing something wrong, then. It should have no
effect on your taxes (but might affect penalty calculations,
if you have farm income and non-farm income from the
partnership).

Phoebe

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I am currently doing for 1065 for my partnership I belong to.
I am curious about line 15c on the 1065 and on the Schedule K1.
I am using TaxCut and I noticed that it automatically puts an
amount in that field. If I go back and look at my return from
2002 I do not see an amount in that field. Where is that
amount determined? And why does that also apply to my Schedule
K1's?

I noticed on my K1 that it says on 15a I got about $5000 and
on 15c it says $17000. I am just curious because it makes a
big difference when I am doing my personal taxes and I have
to enter in both the amounts. I also wonder why I had 0 on
line 15c in 2002.

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