bruce3
Level 1

Taxpayer took distributions in excess of his basis from his partnership. When I enter the distributions in section L of the K-1 (capital account) it shows an ending capital account balance as a negative amount. Is this correct, or should it show as $0? Should I enter the excess distributions on line 9a to carry to the 1040 schedule D? Should any additional information be reported on any other K-1 line?

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