Maria Patton
Level 1

Client has GAAP books and previously reported GAAP basis capital accounts on K-1.  Entering tax basis adjustment on K-1 worksheets results in Schedule L no longer matching books.  But, 1065 instructions clearly state that Schedule L must match books & records.

Clearly, K-1 capital accounts and Schedule L should not be linked.  Will ProSeries fix this before the filing deadline?