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- Adjusting the partners Capital Basis to Tax Basis
Adjusting the partners Capital Basis to Tax Basis
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nesanel
Level 1
09-09-2021
05:20 PM
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I have entered the adjustments on each of the Partners begging capital basis, and I clicked the box on schedule M2 to recomputed the schedule and the BS on schedule is getting off balance by the difference between Book And Tax income.
Line 3 from schedule M2 analysis Book income is picking up Tax income.?
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ihan
Employee
09-09-2021
08:16 PM
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Please see the Tax help in the program on Schedule M2 line 3 and Form 1065 instruction page 56.
