Schedule K-1 Worksheet: Initial/Final Profit %
The answers given to this question do not answer the question.
My business partner did not receive income this year. She still owns 50% of the business.
I checked "special allocations"
For me - Started the year owning 50% of the business, 50% profit, 50% - end of year:100% profits, 50% losses - at the end of the year I still own 50% of the business.
My business partner started the year owning 50% of the business, 50% profit, 50% - end of year:0% profits, 50% losses - at the end of the year I still own 50% of the business.
I still get a message asking about
Profit percentage before/after zero should be populated with the percentage that existed immediately before the partner's termination.
If I go into Forms Mode I cannot find a page 4 to enter an "A" code on Schedule K of Form 1065
