How do I enter a changed partnership interest?

Forum|Forum|3 years ago
February 21, 2023
2 replies
0 views

On schedule K-1

TurboTax Online

RobertB4444

Go to partner information

Enter the beginning percentage and ending percentage of ownership for the partner.

The system will prompt you for the date of the change and create a weighted average for the year.

@gwittsche0322

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gwittsche0322Author

I need to enter percentages for each partner, not use a weighted average from the system.

ART05

I'm no expert but have to deal with this every year for husband/wife LLC partnership. I can't imagine why it matters what date something happened between our %s changing +/- throughout the year. So the date of the last business item activity of the year is when I enter the end of year total %s based on all of the +/-s that happen throughout the year. No way my spreadsheet could deal with itemizing this day by day. The procedure is what the other person described.