Calneva
Level 3
02-28-2021
12:36 PM
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If we adjust the beginning capital on Screen 29 Special Allocations to reflect tax basis capital for each partner, would that also adjust the value shown on page 5 M-2 line 1 as well as beginning capital shown on each K-1 ? We can override Partner's Capital on the Balance Sheet Screen 24 to reflect the book value for capital and keep the balance sheet in balance on the Schedule L balance sheet on page 5 of the return. Would that work ?