Form 1065 Schedule K-1

[johnbasile]

Is there a way to input a partner's capital, profit and loss %'s so that it show's in Box J on Form K-1 as "various" ?

[TaxGuyBill]

Various?  It asks for the beginning and ending percentages.  How can the beginning or ending be "various"?

[johnbasile]

Yes I understand, but similar to Form 8949, when they ask purchase and sales date if we enter -1 it will show as various; just would like to know if there is an input here that would show various on the K-1 under %'s

[George4Tacks]

Even if there were a number of transactions on the opening date, there still would have been a specific number at the opening of that date. That percentage should be shown. At the end of day of the ending period there should likewise be a specific number. I see no way that various belongs there and I no way to make Lacerte show such a thing. 

[TaxGuyBill]

As George said, it is asking for the percentage as of the first minute they were a Partner in the tax year.  That can't be "various".

[johnbasile]

Ok, thank you for your help

[johnbasile]

Ok thank you for your help

[sjrcpa]

Other software can print K-1s with Various. Must be why OP is asking. Useful if you have targeted allocations that don't jive with the stated P&L %.