Gia
Level 1
10-10-2021
02:31 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I entered a pass through K-1 from a partnership that my S corp invests in. It shows up as "other income" on the income statement of my S corp return but it throws off the balance sheet/Retained Earning. Does anyone know how to fix this? Do I need to enter it as a investment in Sub in the assets section?
Thanks in advance for your help!
Labels