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).
You'll need to sign in or create an account to connect with an expert.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Budman7226
Level 1
galllowaylinda
New Member
Cfdtl97
New Member
mahimahimom
Level 3
Joe Abasolo
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.