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lanelindly
Level 2
October 24, 2025
Question

Beginning Capital Account for Each Partner

  • October 24, 2025
  • 1 reply
  • 14 views

How to fix the beginning capital account for each partner in a Partnership?

1 reply

George4Tacks
George4Tacks
Level 15
October 24, 2025

Here is a trick to use in ProConnect to find an input for a specific item. Works on most but not all parts of the program. 

Check Return > Forms > Find the one you want to do input for > locate the box or line you want > Notice the blue shading> That blue shading is MAGIC! Click on it and Voila! you are at the desired data entry point. 

Balance Sheet, M-1, M-2 > Sch M-2 (Capital Account)  is where this one leads you. In this case IF all beginning capital is proportionate to the percentage of ownership, enter the total for all. 

If not https://accountants.intuit.com/support/en-us/help-article/form-1065/use-special-allocations-proconnect-tax-tax-form/L6BUOnwV8_US_en_US?uid=mh4w8je3

Answers are easy. Questions are hard!
    L
    lanelindlyAuthor
    Level 2
    October 24, 2025

    Cute

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