In the Balance Sheet section, under Partnership Capital Reconciliation Summary, I enter the beginning and ending Partner capital amounts. In the next screen the product produces a starting capital amount that is not what I entered. This is the first time I have used TT for this partnership, so it does not have old info. I looked at 1065 instructions for this section, but there was no obvious addition/subtraction needed.
The net of this is my 1065, Schedule M2, Line 1 shows an incorrect starting capital summary. This ends up showing also in the third (of 3) partner's K1. The first 2 K1s show a capital balance that is correct, but the third partner inherits the phantom adjustment. Anyone notice something like this?
