ThomasM125
Expert Alumni

Business & farm

For part L on page 1 of a partner's K-1 schedule, the other increases or decreases in a partner's capital account would consist of the amounts listed on page 5 of the form 1065, schedule M-2 line 4, less the amount on page 5, schedule M-2, line 7. The current year net income(loss) is the partner's share of income amounts such as ordinary income and interest income.

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