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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Form K-1 for Form 568
Form K-1 for Form 568
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vioricam
Level 1
01-23-2023
05:56 PM
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2022 beginning capital accounts on the Forms Ks-1 for Form 568 do not match 12/31/2021 Ending capital accounts on same form. Difference is the Federal/CA depreciation adjustment that FTB asked to be presented in 2021 (and this year) on the Schedule M-2 of the Form 568. That amount was included in the ending capital accounts for 2021 but shows in 2022 as an unlocated amount on the CA beginning capital account specific allocations screen. What is the solution to this other than overriding end entering all ending capital accounts 2021 through the state specific allocations screen?
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