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March 11, 2020
Question

Determining paternership book income

  • March 11, 2020
  • 1 reply
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I have an LLC created for a trust containing Ameritrade accounts. In determining partnership book income, I have included member capital, interest and dividend income, capital gains and start up expenses. But, per Turbo Tax I am $27 off. What am I forgetting?

1 reply

March 11, 2020

Look at page 5 of your 1065....check the balance sheet and M-1.