fxf
Level 2

Why doesn't Schedule M-2 line 1 (beginning partner capital) match what I entered on the balance sheet?

When I print out my return for review, my schedule M-2 "Analysis of Partner's Capital Accounts" shows a beginning balance that is about 10% higher than the number that I entered in the "Liabilities and Partner Capital" section of the balance sheet.

 

How is this being calculated?

 

I'm pretty sure I need the beginning balance to match what I used for the ending balance on my previous tax return.