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Funds Tax

Issues raised by James Debate - 23/07/2025​

  • Simple K1
    • Part II Income and Expenses
    • Part X Income and Expenses
    • Part X Section 3 Details

Part II​

  • The names in row 4 are showing as “#BLOCKED!”.
  • I noted in my previous email that there are some external links to private locations and I think this is the problem here. Blocked_Names
info

This was caused due to the section headers being referenced from another workbook, which appeared to have been removed.

  • There appear to be two sets of K-3 numbers here.
    • Column I shows the numbers from my K-3, but column G has numbers that I don’t recognise.
    • It’s not from this K-3 and also doesn’t appear to be from any other K-3 in the upload folder currently. Blocked_Names
info

This was caused due test data being present within the template.

  • For the column I numbers, the Part II income appears to have been scanned correctly, but the Part II expenses haven’t been populated (lines 25 – 50).
caution

Not sure on this one, will need to check Flow execution and Script

  • On line 49, both columns seem to have populated “89 ) (country code 99 )” for some reason.
info

This was caused due test data being present within the template.

  • Line 55 net income also appears not to have calculated or been scanned.

Part X​

  • This time only my K-3 has been scanned which is good. The other K-3 from Part II column G isn’t there.
caution
  • The Income is almost correct, it put the 218 on line 11 correctly, but it’s also on line 10 for some reason which it shouldn’t be.
info

This is due to the AI model not splitting line 10 and 11, so it populated the value in both.

{
    "e": "", "d": "", "g": "", "f": "", "a": "", "c": "", "b": "",
    "Description": "9 Royalties and license fees"
},
{
    "e": "", "d": "", "g": "", "f": "", "a": "218.", "c": "", "b": "218.",
    "Description": "10 Net short-term capital gain\n11 Net long-term capital gain"
},
{
    "e": "", "d": "", "g": "", "f": "", "a": "", "c": "", "b": "",
    "Description": "12 Collectibles (28%) gain"
},
  • As with Part II, the expenses don’t seem to have been scanned.
  • Part X Section 3. Line 1b worldwide gross income is correct, but 1a says “EIN” for some reason. Line 2a also is “7” when it should be blank.
caution