SL2020
Level 2
08-15-2020
08:21 AM
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How does taxable income flow to Partnership K1, schedule L for 2019
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abctax55
Level 15
08-15-2020
12:27 PM
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Same way it did for 2018?
Net income adjusts Line 21, on Sch L.
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SL2020
Level 2
08-17-2020
05:45 PM
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Let me be more clear; Why is book income flowing through to Schedule L on the K1 when it should be taxable income? Please note that tax basis capital account accounting method is checked on the information worksheet.
Thank you