Skip to main content
February 25, 2021
Question

1065, Schedule M-2, Line 7 question. Second year as a partnership. Should the accumulated draws (2 years) for both partners show up on Line 7 or just this years draws?

  • February 25, 2021
  • 1 reply
  • 0 views
No text available

1 reply

Level 15
February 25, 2021

Line 6a? That figure would be for the current year.

February 25, 2021

It sucked it from QuickBooks into Schedule M-2 Line 7 "Other Decreases" and it is the total for 2 years worth of owners draws for both partners.    

Level 15
February 25, 2021

I am not certain it belongs in that field (or anywhere for that matter).

 

You might be able to get rid of it by doing an override but that might prevent you from e-filing.