CPA17
Level 2

Hi. thanks for the response. 

Here is the issue. I am retiring few partners from partnership at the year end (12/30/19). for example, if partner A owns 10% at the beginning of the year, he owns 0% on 12/30/19 and I am also marking it as final K-1. Now the pro-series is asking about Intl/Fnl %. This is where the issue is. for this box, it is asking me to put % of ownership just before the partner's termination (exiting partner) and % of ownership just after the admission (new partner). so, if partner A (owning 10%) leaves, I still have to enter 10% as Intl/Fnl% and if partner B is joining the partnership then it's asking me to enter 10% for him as well (% of share right after his admission). 

 

$$ amounts are correctly distributed via Weighted Average method. it's just ending % of profit, loss and ownership is the one, which is not making sense to me. Pro-series is not showing any errors! I have zeroed out capital accounts for exiting partners. 

 

0 Cheers