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- Entering 734(b) adjustment from K-1 into partnership return
Entering 734(b) adjustment from K-1 into partnership return
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pkmcelyea
Level 1
04-06-2024
02:38 AM
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I'm trying to flow through a 734(b) adjustment from a K-1 into a partnership tax return. This adjustment is only changing the entity's basis in the partnership, there's no tax impact. I've seen various suggestions online about how to input this, but none seem to work. No combination of potential solutions gives me anything that will output to Special Allocations and allow me to adjust each member's individual basis on Schedule L. Please help...
