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Question

for the K-1's, the system won't let me put a negative number as the beginning capital account

Forum|Forum|1 year ago
April 4, 2025
1 reply
0 views

Due to losses the Capital Accounts ended up negative after last year, BUT TurboTax won't let me put a negative value into the "Beginning Capital"...any ideas how to fix this???

I'm not sure if you are dealing with a partnership or S corporation, but I noticed I can enter a negative value for opening capital in my partnership entry. Otherwise, you can adjust it by making an entry to Other Increase (Decrease):

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