ThomasM125
Expert Alumni

Business & farm

If the new ownership percentage is effective for the whole year, then you need to enter it in the first column, From 1/01/2023 to 1/01/2023 in this instance:

I did this and when I entered $10,000 of business income, the K-1 schedule listed $5,000 as the income for the shareholders who split profits 50/50 in my example:

 

 

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