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- 1065 - Schedule M-2
1065 - Schedule M-2
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Jae1Kim
Level 1
04-10-2024
08:55 PM
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In my 2022 1065 Partnership Return, I mistakenly included the distribution that was made in 2021 again (instead of zero distribution) and line 1 of the Schedule M-2 (Balance at Beginning of the Year) for 2023 is incorrect (subsequently Line 9 Balance at End of the M-2 does not match Line 21 in Schedule L). Line 21 Partner's Capital Account in Schedule L are correct on the returns for 2022 and 2023.
Do I need to amend the 2022 1065 to correct this mistake? Or is it possible to just correct the information on the 2023 return? Or add back in a contribution this year to correct the incorrect distribution taken last year?
