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Business & farm
To make matters more confusing. When TT runs error check it specifically says the following for M2 Line 3:
"Check the income/loss amount reported on Schedule M2. This amount should be the net income (loss) shown on the partnership books used in maintaining the partners tax basis capital accounts for purposes of Schedule K1"
By default TT is pulling M1 Line 9, but this error is saying I should be using M1 Line 1. Any help appreciated here.
March 9, 2023
10:21 AM