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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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- Schedule M-1 form 1065
Schedule M-1 form 1065
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laurojr
Level 1
03-27-2021
12:12 PM
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I have a non dividend distribution for a partnership tax return am showing on Schedule M-1 form 1065, line 6a. This amount is not being shown on Schedule K and not distributed to any Schedule K-1. In addtion the amount does not show on the DNI worksheet. All other amounts reported on the income tax return are being distributed correctly to the schedule K-1's. Has anyone had this happen and what is the workaround.
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sjrcpa
Level 15
03-27-2021
12:16 PM
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A nondividend distribution is a return of capital. It should reduce the investment on the balance sheet.
The more I know, the more I don't know.
