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k-1 1065 line 13v

judys3
Level 4

A tax customer has bought out his partner of a partnership return and the return has been filed final. My customer has received his k1 with 13V $146,863 as well as an increase in the partner capital account of the same amount of money.  How do I enter this on the tax return?

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4 Comments 4
Just-Lisa-Now-
Level 15
Level 15

Most people dont have the lines and codes memorized, what does 13V represent?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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judys3
Level 4

Section 743(b) negative adj

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Terry53029
Level 14
Level 14

I believe line 13V is not entered on the 1040, as it is to inform partner how much to adjust his/her basis

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judys3
Level 4

Ok, great.  I thought that, but since the information was given I wasn't sure. 

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