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Get your taxes done using TurboTax
to get rid of that -2K you have to change an account which would require a journal entry to keep the books reconciled and in balance. such an entry could be to debit that account and then treat it as a capital contribution (a credit) split among the partners.
or debit the account and credit misc income (since it would seem it was taken as an improper deduction)
‎April 21, 2021
12:42 PM