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- Form 1065, M-2 Line 3 - Net Income
Form 1065, M-2 Line 3 - Net Income
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dchapman
Level 1
01-26-2021
02:57 PM
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Per IRS instruction the net income reported on M-2 line 3 should be the net income used in maintaining the partner's tax basis capital account for purposes of Schedule K-1. Lacerte uses net income for book. Is there a place where that can be changed?
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