Can I change how the Current year net income (loss) is allocated between partners on the Schedule K-1?

[bennawilliams-si]

The software is incorrectly allocating the Current Year Neet Income/(Loss) on each partner's Schedule K-1, Item L. How can I fix this?

[sjrcpa]

The software is allocating it based on the P&L percents you entered. So either correct those or look for a place to do Special Allocations.

[George4Tacks]

Partner Information > Partner Basis Statement (there are overrides there)

[bennawilliams-si]

Thank you for responding! However, the basis worksheet is fine. The current year net income (loss) on Schedule K-1, Part L is not allocating correctly for either partner. I think it is allocating the entire GP to one partner. Any ideas on how to fix this?

Thank you!!