mhlester
Level 3
09-08-2020
07:04 PM
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Partner A sold 48% of its 98% interest to Partner C.
I have entered the ownership percentages for the time period before and after the sale, but Lacerte still allocates all the capital to Partner A.
Where do I enter the adjustments to the capital accounts so Partner A's K-1 shows 50% ownership at end of year and Partner C's K-1 shows 48%.
I tried entering positive and negative amounts in other increases and other decreases in M-2, but that does not flow through to the K-1.
thanks,
Michael
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