Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Entering Data from Schedule K-1 Box L: Partnership's Capital Account Analysis

VenuR
Level 2

My client received a Schedule K-1 from Partnership. In it Box L gives amounts for Beginning capital account, etc. On Screen 20, I see location for entering Partner's share of liabilities, but I could not see a location where I can enter Capital account info. I would appreciate any info to direct me to locate it. 

Thanks.

0 Cheers
1 Comment 1
PhoebeRoberts
Level 11
Level 11

You track outside basis in the section headed Basis Limitation. The partnership keeps track of the capital account.