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How should the negative tax basis capital account be entered in the 2019 Partnership module to disclose a negative tax basis capital account on line 20 using code AH?

ftlusty
Level 1
 
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PhoebeRoberts
Level 11
Level 11

Screen 22, Other Schedule K Items
Other Information (4 sections up from the bottom)
Other Items (Line 20c) (bottom section)
Other Items (Ctrl+E) (very last item)

Ctrl+E or click the button to the left of the field to open the pop-up. In the leftmost column (K-1 Code (Ctrl+T)), click the down-arrow and scroll all the way to the bottom. AH = Other Information. Enter descriptions and amounts as you see fit.

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3 Comments 3
George4Tacks
Level 15

Capital basis should show on Parti II - L 

Possibly the client has some basis outside the partnership.


Answers are easy. Questions are hard!
PhoebeRoberts
Level 11
Level 11

Screen 22, Other Schedule K Items
Other Information (4 sections up from the bottom)
Other Items (Line 20c) (bottom section)
Other Items (Ctrl+E) (very last item)

Ctrl+E or click the button to the left of the field to open the pop-up. In the leftmost column (K-1 Code (Ctrl+T)), click the down-arrow and scroll all the way to the bottom. AH = Other Information. Enter descriptions and amounts as you see fit.

PhoebeRoberts
Level 11
Level 11

If the Box L capital account isn't on a tax basis, tax-basis capital account balance gets disclosed in Box 20, Code AH.