mmmconsultingse rvices
Level 2
04-13-2024
04:38 PM
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I think I know the answer but wanted to see if I am wrong here. First, I have a partnership and we record tax payments estimates as a debit to Equity (Tax Estimates) / Credit Cash. Is this actually considered an Owner Distribution? I was reading and it said that Tax Payments aren’t included in the calculation for Partner Capital M2 but then my balance sheet doesn’t balance in Schedule L.
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