Ok, that's scary.  Did they change the rules for Schedule L too?

I don't think I've ever actually seen a full "tax basis balance sheet."  Certainly not an accurate one.  And to think, my PPP cash has no basis. 🙂

Probably has something to do with the fact that partners' capital accounts need to be reported on tax basis this year.

Would agree, but just imagine trying to get it to balance for electronic filing.

I wonder if the IRS instructions tell you the place to put the plug number.

What plug?

We always prepare a cash basis balance sheet-starting with book numbers and recording tax journal entries.

I don't use ProSeries but perhaps it will have the option to show book balance sheet on Schedule L while also allowing tax basis capital accounts on the K-1s.