paulaaughenbaug
Level 1
05-24-2020
07:30 PM
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Loans from partners posts as recourse debt but error message says "The program will not allocate recourse debt to LLC Members. Either reclassify the debt as nonrecourse or enter a special allocation code to indicate how the amount should be allocated" - What is the allocate code?
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Accountant-Man
Level 13
05-24-2020
08:54 PM
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Spoiler
Not at my PC. Go to the schedule k to find the total amount. Enter a number that agrees with the allocation codes on the k1 worksheet. Enter the specific amounts which belong to each partner.
** I'm still a champion... of the world! Even without The Lounge.
