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Correcting prior years capital accounts

lbj-2017
Level 2

I need to correct two partners capital accounts for previous years.  They were not prepared correctly. I am uncertain how to do that and where to show the corrections.  Does anyone have any experience going that?  Very much appreciate any recommendations.

 

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1 Comment 1
sjrcpa
Level 15

If nothing else is affected, use Other increase/Other Decrease.


Ex-AllStar