Debra21
Level 1

1065 MEMBER DEPOSITED MONEY TO START UP PARTNERSHIP   DURING THE CALENDAR YEAR THEY REIMBUSED THEMSELVES   WHERE DOES THIS GO ON 1065 AS A LIABILITY

0 Cheers
sjrcpa
Level 15

The initial cash influx is Loan from Member.

The repayment (reimbursement) reduces that liability. 

If it was all paid back during the year you end up with a zero balance which goes nowhere on the Balance Sheet.


The more I know the more I don’t know.
George4Tacks
Level 15

putitinascapitalcontributedduringtheyearandaswithdrawalanddistributionsinthem-2

iknowthisishardtoread,butsoareALLCAPS!


Answers are easy. Questions are hard!
George4Tacks
Level 15

How about the interest due on such a loan? JUST ASKING (:~}


Answers are easy. Questions are hard!