Entity Type Entered on K-1
When entering the entity type for a partner in the 1065 partner worksheet, I put one in as "S Corporation". However, it is entered on the K-1 as "Corporation". Since this is a cash basis partnership, which normally can not be cash basis with a Corporation as a partner, ProSeries flags this in the diagnostic. Why can't ProSeries show this as an S Corporation on the K-1 like my other CPA buddies software does?