Business & farm

AbrahamT · ‎March 17, 2023

Just to clarify, is this an issue with the state of California specifically or it won't show up in the forms mode for the federal either?

Watch this

In the input under Business Info/Federal Partner Info / Enter Owner Percentage for each partner like this

then Federal taxes/Balance Sheet/ Partner's Capital like this

then this should flow to the K-1's to each of the individual partners like this

This is how it is done for the federal. Whether the beginning capital balances flow through to the state of California or not should not bear any taxable effect.

[Edited 03/17/2023 1:44 pm PST]

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