Supplemental table "partner's share of income, credits, etc." for Schedule K-1 is showing incorrect capital account analysis. How do I enter correct number here?

[ThomasM125]

You need to go to the Business Info tab. Scroll through that section until you find the Partner Summary screen. Edit the partner you want to work on and scroll through until you find the Partner Capital screen where you can enter numbers that affect the partner capital account.

[veehbj]

I have the same question, but am using Turbotax Premier 2025.  The data showing in Turbotax for K-1 Partner's Capital Account Analysis (Section L) s the same as was shown in the 2023 K-1.  It does not match the current 2025 K-1. Nor the 2024 K-1 for this partnership.  Do I need to update the numbers in L Partner's Capital Account Analysis in the 2025 K-1 in Turbotax? The numbers on the 2025 K-1 are different from the numbers in Turbotax Premier for this partnership.  The Turbotax Premier dialog does not address Section L, Partner's Capital Account Analysis.  Does it matter?  Want to avoid questions from the IRS when I submit my taxes this year.

Would appreciate a quick reply as I'm nearly ready to file my 2025 taxes.

Thanks

veehbj

[Philleann]

Hello, veehbj,

First, I am an amateur tax filer, so don't rely on any advice here as authoritative.

I asked a similar question in March, and I received an answer from

THOMASM125, described as an Employee Tax Expert, on March 26, 2026, 8:27 AM

(this date and time may help you find the discussion)

THOMASM125 said that in order to update this, you will need to go to the Business info tab,

Scroll to the Partner Summary Screen, and select the partner you wish to work on, and scroll thru

until you find the Partner Capital screen, where you can enter numbers that affect the

partner capital account.

I use HOME and BUSINESS version, but I presume PREMIER has the same layout.

As I noticed that my Capital account balance was out of date by a few years, and that the

capital account does not show anywhere on the printed out return, I assume that this

section is not being reported annually, and will only be important in the year you dispose of

your partnership.   I also assume that,, even if you correct it this year (2025) that it won't update,

as when I prepare my taxes, I do not see a section specifically asking me to verify my 

capital account.

Good luck!

Philleann