itonewbie
Level 15

"The "total" of partner's beginning capital is accurate, but not accurate in each partner's beginning capital balance.  And all the percentages are supposed to be carried from the last year's return, but the program automatically calculate the beginning capital balance of each partner based on the ENDING percentage of the current year."

Since the total of partners' beginning capital is correct and only the allocation is incorrect, perhaps you could try the following under Partner Information > Partner Percentages > BEGINNING (XX.XXXXXX)

  • OWNERSHIP OF CAPITAL: Enter the correct allocation for each parnter (e.g. Partner A = 20%, Partner B = 10%, Partner C = 70%)

This should get the correct amounts of capital flowing to the respective K-1's for Beginning capital account.

---------------------------------------------------------------------------------
Still an AllStar
0 Cheers