Section 04 Errors

This subsection identifies Section 04 field errors.

Section 04 has monetary amounts.

The entries are of variable lengths.

All entries are dollars only.

If any income line on the return reflects a line entry ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡ ≡, the Special Income Code must be "1" .

Data in Section 04 is obtained from Form 1065. See Exhibit 3.12.15-1, Form 1065, U.S. Return of Partnership Income.

The Form 1065 field designators, the title and the location on the return where the data is obtained is shown below:

Field Designator

Field Length

Title

Positive/Negative

Location on Form 1065

0419D

15

Mortgages, notes, bonds payable in 1 year or more

(±)

Form 1065, Schedule L, Line 19b, Column (d)

04PCA

15

Partners' Capital Account Ending

(±)

Form 1065, Schedule M-2, Line 9

Invalid Condition - Any field in Section 04 will be invalid if not all numbers.

Correction procedures - Check for coding and transcription errors or misplaced entries.