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goodwinsharon14
March 9, 2023
Question

How do i enter decrease in capital partner account. I've tried entering number on the worksheet but it does not carry over to the k-1 (section L)

  • March 9, 2023
  • 1 reply
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1 reply

A
AbrahamT
March 9, 2023

Just to clarify, which component of that Section L are you trying to decrease?  Is it the Beginning capital account, Is it Capital contributed during the year, is it Current year income or loss, is it Withdrawals and distributions?

Typically, any adjustments that you want to make as far as the capital contributed or distribution figures would be made here

And then hit Done Entering Shareholders and go from there.  Adjustments to income and expenses would be entered here

Please let us know either way. Thank you.

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