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kramermr
New Member

Box L (Partner Capital Account Analysis) on the software generated K-1's for each partner is blank.

Each partner contributed 10k end of 2016 (which has been entered but is not showing up as beginning balance) and partnership had 30k of profit during 2017 and no distributions, so each of the 5 partners should be receiving a capital account increase of 6k.

Why is the software not tracking/populating this information and how do I get it to do so?

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5 Replies

Box L (Partner Capital Account Analysis) on the software generated K-1's for each partner is blank.

I have attached a link to the form 1065.  Note the commentary for Sch B question 6.  I would imagine that you checked this response as "yes" and if you read the commentary at the end of the question you will see why that area of the K-1 is not populated.

If you want it to populate you will need to respond "no".

https://www.irs.gov/pub/irs-pdf/f1065.pdf

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
anrdiaz
Returning Member

Box L (Partner Capital Account Analysis) on the software generated K-1's for each partner is blank.

I don't think that is going to fix the issue....I'm having the same one. Sch B question 6 is referring to retiring debt. Does anyone else have suggestions?

Box L (Partner Capital Account Analysis) on the software generated K-1's for each partner is blank.

Schedule B, Question 4 has your answer.

nightphyre
Returning Member

Box L (Partner Capital Account Analysis) on the software generated K-1's for each partner is blank.

I've got one where B #6 is "no" - but my L is still blank - so your theory doesn't hold water.

Box L (Partner Capital Account Analysis) on the software generated K-1's for each partner is blank.

This is it - Form 1065, Schedule B, Question 4

 

In the box, click YES to "do you want to complete Schedules L, etc. even though they are not required".    Then, go to Schedule L, and fill in the beginning and ending balances for  assets and liabilities.   

 

That will transfer over to the K1.

 

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