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California K-1 Schedule I different than Federal

ssellstrom
Level 1

Federal must be Tax Basis, but California S/B 704(b)

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3 Comments 3
George4Tacks
Level 15

Screen 1 > Miscellaneous > Partner's Cap Accts (State Only) > Select from the drop down.

If my psychic abilities are lacking, try rephrasing your statement in the form of a question (YES, we miss Alex!)

 


Answers are easy. Questions are hard!
sjrcpa
Level 15

If so, that only affects the capital account.

What is your issue?

The more I know, the more I don't know.
ssellstrom
Level 1

Tried to use Screen 1, Misc Info: "Partner's Cap Accts (State Only) with "Tax Basis"....did not work.  The California K-1s still show "704(b) capital accounts", rather then "Tax Basis" on Pg. 2 Sch I.

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