Schedule L not balancing

[spiderfool3]

I have a pass through company that is invested in 3 other LLC's.  I received K-1's totaling loss of -225,712 and had a distribution of 2,352.  on the Schedule L i have Cash at end of year 2,352, since i did not make any distributions to the partners.  the beginning cash balance was 0.  I collected 236,000 which is in other investments.  So, my total assets are sitting at 238,352.  the partners' capital account is at 10,288.  I dont know what i inputted wrong where, but it says the balance sheet iss out of balance by 228,064.  Can anyone point out what i am doing wrong?

[Anonymous_]

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@spiderfool3 wrote:

...it says the balance sheet iss out of balance by 228,064.  Can anyone point out what i am doing wrong?

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It almost looks like your capital account needs to be increased by the amount your balance sheet is out of balance (i.e., 228,064) - at least something on the liabilities and capital side. Did you make a distribution to your members?

[spiderfool3]

I did not.  the distributions were made to the partnership from the 3 investments the partnership is a part of, but i did not make any distributions since the amount was small.  i made sure all of the capital accounts of the shareholders was correct. 

[Anonymous_ · Accepted solution]

Fine, except you stated you collected 236,000 making the total assets 238,052 so, without distributions, something on the liabilities/capital side needs to increase, most likely the capital account as no distributions were made.