There are several questions regarding a K-1 we receive that has activity in both "business" and "rental real estate". I entered them as two separate K-1s as instructed, however, it appears that they both are showing amounts under "beginning capital account" and "ending capital account". I'm pretty sure when I entered them a few years back I only entered this information under one of them. How can I correct this?
Also, there is a change to the ending capital account for the LLC due to a current year increase. Maybe I'm just tired but I can't figure out how to enter this into TurboTax without manually forcing the form view (which I have not tried yet).
Additionally, this LLC has new entries for Partner's share of liabilities - we have never had this before and I can't figure out how to get them entered (same as previous problem).
On the page where it reviews your information of last year for the K-1, answer No to the question if the information is the same as last year. This will get you into the part of the interview where you can change the amounts for capital account and Partner's share of liabilities
On the page where it reviews your information of last year for the K-1, answer No to the question if the information is the same as last year. This will get you into the part of the interview where you can change the amounts for capital account and Partner's share of liabilities