topic Initial Capital for LLC partner in Business & farm

Initial Capital for LLC partner

chj3 — Fri, 11 Feb 2022 17:42:36 GMT

New TT user for this LLC. Business started in 2004. Updated TT today. I am trying to enter member capital data. TT does not provide a line for entry of Last year's ending Capital for any of the members. No line or blank. Lines for contributions and distributions are present. How do I enter the initial capital with out the line. or how do display the line. Please help.

Re: Initial Capital for LLC partner

Anonymous_ — Fri, 11 Feb 2022 17:48:22 GMT

You should be able to enter the figures in Forms Mode directly on the K-1s or K-1 Worksheet.

Re: Initial Capital for LLC partner

chj3 — Fri, 11 Feb 2022 23:26:27 GMT

Thanks for your suggestion but did not work. Does not allow entry on k1. Did allow entry on k-1 worksheet but does not transfer to K-1.

Re: Initial Capital for LLC partner

Anonymous_ — Fri, 11 Feb 2022 23:48:54 GMT

It will not appear on your K-1 unless you check the appropriate box on Schedule B of your 1065.