After the change in ownership, only the leaving partner(s) have Intl/Fnl %. All other partners have their revised percentages in the Ending column. You can see this in Step-by-Step under Business Info >> Partner/Member Information >> Profit Percentages. This table displays before and after columns (but not the Intl/Fnl %). Notice the box and statement at the bottom of that page that allows you to enter other percentages.
When there is a change in ownership, TurboTax assumes that income flow is constant over the year and uses a weighted average to calculate the "effective" profit/loss percentage for the year.
Here is an example, using a four-member partnership with equal ownership at the beginning of the year, which is 25% for each partner. One partner leaves on July 1, resulting in 33.333% ownership for the remaining partners for the rest of the year.
$10,000 net income January-June = $2,500 per partner (25% of $10K)
$ 6,000 net income July-December = $2,000 per partner (1/3 of $6K)
$16,000 Total Income
Partners One, Two and Three have a total of $4,500 income for the year. This results in an effective income allocation percentage of 28.125% each (4500/16000).
Partner Four has only $2,500 income, because they exited the partnership as of 6/30. This is an effective income allocation percentage of 15.625% (2500/16000).
If you wish to override this allocation, TurboTax allows you to enter one of three allocation percentages under Business Info >> Partner/Member Information. You may use Profit, Loss, or Ownership Percentage to allocate income. The actual percentages are entered under each partner's info. Once you have calculated the effective allocation percentage, you can enter that number under profit or loss, whichever applies.
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