Hi there,
I have a K-1 with no numbers in Part 3 (boxes 1-20).
All that is being reported is a change in the capital account, in Box L.
The detail in the description says the box L total reflects
- Contributions to Capital
- Transferred Caital
I do not see where to enter this in Turbo Tax.
Is this just "internal accounting" and not reflective of a capital event?
Thank you,
Emily
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It is not necessary to enter information regarding your capital account in TurboTax but, if you would like to do so and since you are using TurboTax Home & Business, you can enter the figures directly on your K-1 in Forms Mode.
It is not necessary to enter information regarding your capital account in TurboTax but, if you would like to do so and since you are using TurboTax Home & Business, you can enter the figures directly on your K-1 in Forms Mode.
thank you.
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