This article will assist you with entering distributions in the Partnership module of Intuit ProConnect.
Follow these steps to enter distributions in the partnership return:
- Go to the Input Return tab.
- From the left of the screen, select Balance Sheet, M-1, M-2 and choose Sch M-2 (Capital Account).
- Scroll down to the Distributions section.
- Locate the Cash and marketable securities field.
- Enter the amount of cash distributions in the Federal column.
- Go to the Special Allocations tab.
- Allocate to the Capital Account.
- Expand the Cash & Marketable Securities (enter total in Sch M-2 (Capital Account)) section to allocate the distributions to the correct partners.
- Go to the Check Return tab.
- Make sure the amounts flowed to the Schedule K-1, Withdrawals and Distributions successfully.