Partnership Loan

[jrsmiley2476]

One of the partners in a 50 50 LLC made a loan to the LLC for $36,500 he has been repaid 24,500.  There was 12,000 outstanding at 12/31/2020.  This is a recourse loan to one of the partners.  How do I get this entered in TurboTax Business?  I have all other info entered for the LLC. 

Look forward to a response

Thanks

[Anonymous_]

Enter on your balance sheet (if required) and there will be a special allocation for the liability to the member.

[jrsmiley2476]

This still isnt working .  It shows the beginning balance of the loan but it does not show the ending balance on the k1

[jrsmiley2476]

No balance sheet required only 20,000 in ending assets

[Anonymous_]

You should be able to enter that in Forms Mode, but you may either have to do an override or check the "Yes" box on your 1065 (in the Completion of Schedules L, M-1, M-2, etc Smart Worksheet).