Increase or decrease in the partner's share of liabilities calculation
UltraTax CS calculates the increase or decrease in the partner's share of liabilities by subtracting the prior-year value from the current-year value on Schedule K-1, item K, Partner's share of liabilities.
note
The prior-year value of a new or converted client can't be determined; therefore, the partner's share of liabilities increase or decrease may be incorrect. Use the
Share of partnership liabilities (Force)
fields in the Basis
screen to override the prior-year or current-year share of liabilities.
