In a partnership return in TurboTax Business, you can adjust the opening capital account balance for each partner by following these steps:
- While in your return click Business Info > Partner/Member Information.
- On the Partner Summary screen, click Edit next to the first partner.
- Continue to the Partner Capital screen and make the adjustment in the box Last Year's Ending Capital Balance.
- You can also make any other adjustments (contributions, distributions) and click Continue.
- You will be returned to the Partner Summary to make adjustments to the other partner(s)' capital accounts.
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