For some reason known only to TT, it asks about your Capital Account when you first enter an MLP, but not when you're editing one you imported from a prior year. However, you can update the Capital Account in 2 ways:
- Go to Forms mode, find the Worksheet for the K-1, and enter the values directly there.
- If you go back to the K-1 section of the interview, where it shows a list of all your K-1s with an "edit" button next to each one, choosing "Edit" will walk you through the questions about the Capital Account (along with everything else).
I find using the Forms method to be simpler.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
