CHAMP @Anonymous_ is correct - you can populate the Capital Balance portion of Schedule K-1 by changing the answer about Schedule L. There is no need to manually enter this information or override existing entries.
The easiest way to include Schedules L, M-1 and M-2, regardless of your partnership's income and/or asset value, is on Form 1065 p1-3.
- Go to Forms (icon in the TurboTax header) and click on Form 1065 p1-3 in the left column to open it in the large window.
- Scroll down to Schedule B Line 4d. If the box is checked "yes," you are not required to include these schedules.
- To include this information, look under Line 4b for Completion of Schedules L etc. Smart Worksheet.
- Check the Yes box.
- Open Form 1065 p4-5 and scroll down to Schedule L to view/edit the Balance Sheet information.
Information you have entered or imported for the partners' capital accounts will now be shown on Schedule K-1.
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