Enter information for Schedule K-1, item L
Do the following to enter information for Schedule K-1, item L to report partners' capital using the book basis method.
- In UltraTax CS, go to theM1M2screen in theBalance Sheetfolder.
- Enter the partners' capital account information in theAnalysis of Partners' Capital Accountssection.noteInformation you enter in this section is for both Schedule M-2 and Schedule K-1. Per instructions, amounts on a partnership's Schedule M-2 should equal the totals of the amounts reported in item L of Schedule K-1 for all partners.
If Schedule K-1, item L is not calculating, check your diagnostics.
If Schedule B question 4 answer is
Yes
, Form 1065, Total assets or Schedules L, M-1, M-2, and K-1, Partner's capital account analysis won't calculate. You can force them to calculate and/or print. Go to the OthInfo
screen in the General
folder. Enter 2
in Meet all requirements for Question 4? (Force)
to force the answer to No. If you don't want to force the answer, but still print the schedules, enter a code in Print schedules when not required
instead.
