K-1 Section L Empty -- Turbo Tax Business 2021

[lfg2021]

The entire section L of my populated K-1s are left blank. I found a similar question from 2019, but I am unable to find an answer for the TT Business 2021 version. 

For 2019, it mentioned a "question #6 on the size of the partnership receipts and assets.  If this question is answered "no", then Section L of the K-1 will not be completed."  This does not seem to correlate to the 2021 version, and I do not know where to look.

What can I do to get this section populated? Thanks for the help

[Anonymous_]

Try Question 4d (and the Smart Worksheet directly below that question) on Schedule B of your 1065 (top of page 3).

[Jimbob2020]

What I had to do is manually over ride (right click option), as well as for the increase (decrease) line.  The other lines did seem to flow from the Sch K-1 Wks as I expected.  Jimbob.

PS:  this was for Turbo Tax Business 2021 1065 Partnerships for LLC (Partnership K-1s)

[Jimbob2020]

to clarify, the first override was for Beginning capital account and the other override was for "Other increase (decrease) (attach explanation)"

[PatriciaV]

CHAMP @Anonymous_ is correct - you can populate the Capital Balance portion of Schedule K-1 by changing the answer about Schedule L. There is no need to manually enter this information or override existing entries.

The easiest way to include Schedules L, M-1 and M-2, regardless of your partnership's income and/or asset value, is on Form 1065 p1-3.

1. Go to Forms (icon in the TurboTax header) and click on Form 1065 p1-3 in the left column to open it in the large window.
2. Scroll down to Schedule B Line 4d. If the box is checked "yes," you are not required to include these schedules.
3. To include this information, look under Line 4b for Completion of Schedules L etc. Smart Worksheet.
4. Check the Yes box.
5. Open Form 1065 p4-5 and scroll down to Schedule L to view/edit the Balance Sheet information.

Information you have entered or imported for the partners' capital accounts will now be shown on Schedule K-1.

[SandSpider]

Wonderfully easy to follow explanation.  Thanks @PatriciaV !

If you do corporate taxes would love to work with you and you can message me