ProConnect HelpIntuit HelpIntuit

Entering capital account distributions to partner in Lacerte

SOLVEDby IntuitLacerte Tax89Updated July 14, 2022

Follow these steps to enter distributions in the partnership return:

  1. Go to Screen 28, Schedule M-2 (Capital Account).
  2. Scroll down to the Distributions section and locate the Cash input field.
  3. Enter the amount of the cash distributed to all partners in the Federal column.
  4. Go to Screen 29, Special Allocations and allocate to the Capital Account.
  5. Expand the Distributions section, and then Cash & Marketable Securities, to allocate the distributions to the correct partners.
  6. Select the Forms tab to review that the amounts flowed to the Schedule K-1, Withdrawals and Distributions successfully.

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.