TaxPandaCPA
Level 4
03-10-2026
09:04 AM
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It's a final‑year partnership return for a partnership (Form 1065), and encountered a software / technical question.
Specifically, Partner A gifted his membership interest to Partner B in 2025 June, and I want to ensure I’m properly reflecting the transfer and its impact on the final return. I would really appreciate the opportunity to pick your brain on the how to allocate the capital account balance in proconnect.
I did zero out partner A's profit and loss and capital account balance at year end.
Thank you in advance, and I appreciate your time.
Hope it helps. Thank you in advance for marking mine as your "BEST answer"!
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