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Does anyone know how to account for a contribution by a pship to a pship when entering the K-1?
rsummerville
Level 1
08-13-2020
02:30 PM
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I can enter the activity from the K-1 to the investing partnership but cannot find where to enter the contribution made during the year anywhere other than the M-2.
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Lacerte Tax
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Cheers
sjrcpa
Level 15
08-13-2020
02:36 PM
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It should increase the Balance Sheet account Investment in Partnership.
It is not an M-2 item.
The more I know the more I don’t know.
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Cheers
