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I've got an LLC partnership with 3 owners. One owner was bought out by the other 2 owners. In Pro Series, Sch K-1 Wks, beginning Profit, Loss and Ownership was 33 1/3% for each owner. Ending Ownership needs to be 50% for the 2 remaining owners. When I zero out the percentages for the leaving partner I get an error saying the Intl/Fnl Profit % should be "populated with the percentage that existed immediately prior to the partner's termination." That would be 33 1/3% but if I enter that in the Intl/Fnl % box the owner's K-1 shows an ending % of 33 1/3%, and it should be 0%. I've checked the 'Sale' box and while the profits and other deduction items are not being distributed to the leaving partner's K-1, it seems misleading that the ending Profit, Loss and Ownership %'s still say 33 1/3%.
Anyone else seen this? Is it ok that the ending % still shows 33 1/3%?
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