AnotherTaxGuy
Level 2
08-19-2021
03:18 PM
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Hey George4Tacks
What you mention isn't quite the issue I have. I've zeroed out the capital account balances & balance sheet, no issues there.
What I am trying to adjust is the ending ownership % shown on each owners K1. Where is says:
Partners share of profit, loss, and capital
Beginning of year / End of year
50% / 50%
50% / 50%
50% / 50%
I want the ending to show zero %, because the partnership was closed.