I do K-1s ever year. To complete the form I must manually add numbers to the K 1 form itself. One of the parts of that form is "partner's capital account analysis". In that section we start with last year's ending balance and arrive at a new balance going forward. To do that, you must subtract "withdrawals and distributions". This number is subtracted. This year TT is adding the number you enter and it will not accept a negative. Bug. Any fix or workaround?
You'll need to sign in or create an account to connect with an expert.
Please clarify which version of TurboTax you are using, what type of Schedule K-1 you are entering (1065 or 1120S), and where you are entering the Capital Balance information.
I cant explain but as I log in this morning the form is behaving properly. Thanks. Issued resolved
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
user17699284790
New Member
hc0223
New Member
17699049857
New Member
Ashsa
New Member
user17698982497
New Member