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How do I adjust capital accounts to reflect contribution?Partnership w/ 2 members. 1 member contributed $150K, 2nd member,$0. Now,capital accts based on interest.

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Level 1
last updated ‎June 05, 2020 2:27 PM
 
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Level 15
last updated ‎June 05, 2020 2:27 PM

What the partners originally put in can't change unless you have a time machine to go back to the day of the contribution.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 15
last updated ‎June 05, 2020 2:27 PM

If you don't mean retroactively adjust but to show the proper allocation (e.g. because it's a new return), you can enter that on the Special Allocations tab in either Amount or Percentage.

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