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Box L on the bottom left of the 1065 K-1 shows partner's capital account analysis, like beginning capital account, capital contributed during the year, increases, decreases, and ending capital account. I know where to enter these amount in Ultra Tax, but I cannot find a place to enter any of these in the Proseries Schedule K-1 worksheets. This is their 1st year receiving this K-1. Any ideas?
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Happy day...Proseries will complete the Sch L if you check the box on the bottom in the questions. If you want to keystroke starting amouts, go to Sch K-1 worksheet and type it there.
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Every other software I have had will have an input for this information. So weird that ProConnect is choosing not to account for K-1 1065 Line "L"
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Why do you think you need to enter Schedule L?
Pick up the capital contribution for the basis calculation. Income/loss/deductions and distributions should flow to the basis calculation.
The more I know the more I don’t know.
