turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

DG51
New Member

Partner percentages

When entering current ownership % in partner information, the prior year ownership field changes to the end of year % value.  Each year end changes as distributions during the year are not proportional.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Partner percentages

I don't quite understand your question.  Your percent in the partnership should not change from year to year unless you added or lost a member or you or another member added significant capital into the partnership (ie purchased additional shares such as going from 50-50 to 33 - 67%  If this is the case you have other tax problems and should seek professional tax help. 

So are you entering your Schedule K-1 data into your personal TurboTax return  or completing the business tax return? 

you say distributions during the year are not proportional  Why?  does a member have a guaranteed payment, are you reimbursed for expenses  Distributions are normally  equal to the ownership percent unless you have other special situations.  If so seek professional tax help. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies