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- WHERE DO YOU INPUT OWNER CAPITAL AND RETAINED EARNINGS FROM BALANCE SHEET TO FORM 1065 ON WHAT SCREEN AND WHERE??
WHERE DO YOU INPUT OWNER CAPITAL AND RETAINED EARNINGS FROM BALANCE SHEET TO FORM 1065 ON WHAT SCREEN AND WHERE??
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dabdulahad-1800
Level 1
12-16-2022
08:37 AM
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2 Comments 2
PhoebeRoberts
Level 11
12-16-2022
09:12 AM
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Capital account balances go in the first line of Screen 28 as an aggregate, and are allocated to the partners in Screen 29.
Retained earnings isn't a meaningful concept for partnerships. Make appropriate journal entries to zero it out.
