I had a distribution to one of 2 partners during the year and I have that in the partnership return. However it isn’t showing as a reduction of partner capital on the K-1 as it should be. Is this a big or did I not do something correctly? Not easy to navigate this software, seems like a lot of loops. Anyone know how to do this or check what went wrong? Thanks you!
You'll need to sign in or create an account to connect with an expert.
Enter Forms Mode and try entering the figures on your Schedule K-1 Worksheet.
Enter Forms Mode and try entering the figures on your Schedule K-1 Worksheet.
Thanks. Oddly only myself (1 of the partners) has a K-1 worksheet. Both have the actual K-1’s. No idea how this happened it’s not even the first year of the partnership. Any ideas?
OK I did figure that out, thank you. Hopefully can get the balances to work now also.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jschoomer
Level 3
alex1907
Level 2
goldphish96
Level 1
fergs
Returning Member
wjschermer
Level 2