2Pups
Returning Member

Get your taxes done using TurboTax

@PatriciaV 

Thank you for your response. Per your guidance, it sounds like this is how Sch K-1 Wks should be populated:

 

For each of the two Exiting Members:

                  Beginning     Ending    *Intl/Fnl %

Profit %      25%               0%            25%

Loss %       25%               0%            25%

Own %      25%               0%            25%

 

For each of the two Remaining Members:

                  Beginning     Ending    *Intl/Fnl %

Profit %      25%               50%            25%

Loss %       25%               50%            25%

Own %      25%               50%            25%

 

If this is accurate, Turbo Tax is splitting up profits and losses on Schedule K-1 based on the Ending % and not the *Intl/Fnl % when each Member should be allocated 25% of profits and losses. It looks like the only way I can get Turbo Tax to split profits and losses as 25% per Member is if I keep Ending at 25% for everyone. Please advise.