If Form 1065, Schedule B, Line 2b 'IndivEstOwn50OrMorePrtshpInd' is "Yes", then Schedule B-1 must be present in the return.
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Reject Code F1065-041-02 occurs when Form 1065,Schedule B Line 2b is marked Yes but no entries have been made on Schedule B-1 as required.
To correct reject code in the partnership return in TaxSlayer Pro, from the Main Menu of return (Form 1065) select:
- Schedule B - Other Information
- Any individual or estate own interest of 50% or more? - Either change the answer to No, or choose Yes and fill in the required information when prompted.
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