To enter partner's percentages:
- Go to Screen 7, Partner Information.
- Enter the applicable partner information.
- Go to Screen 8, Partner Percentages.
- Enter each partner's percentage of Profit Sharing, Loss Sharing, and Ownership of Capital under the beginning and ending columns.
- Enter amounts in whole numbers (xx.xxxxxx) format. For example, 60.125% is entered as 60.125.
To override partners percentages on the K-1's:
- Go to Screen 32.1, Schedule K-1 Miscellaneous (Partner Miscellaneous Info).
- Select Partner in a Partnership from the left Partner menu.
- Scroll down and locate the Schedule K-1 allocation percentage (xx.xxxxx) [O] field (it's located above the K-1 Statement Allocation Percentage subsection).
- Enter the amount in (xx.xxxxxx) format.
- If you use this field for one partner, it must be used for all partners. You must enter -1 for partners receiving no distributions.
- Repeat steps for each partner.