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allocation of losses based on capital account balance
I am trying to enter data in TurboTax Business for partners that join an LLC at multiple (10) different times in the year and losses must be allocated by capital account basis. I get errors on the first member saying some allocation isn't correct when I put 0% in share of capital, losses, and profits for the first two calendar periods. Am I doing something wrong?
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‎January 6, 2021
3:09 PM