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How do I adjust capital accounts to reflect contribution?Partnership w/ 2 members. 1 member contributed $150K, 2nd member,$0. Now,capital accts based on interest.

lev
Level 1
 
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2 Comments 2
IRonMaN
Level 15

What the partners originally put in can't change unless you have a time machine to go back to the day of the contribution.


Slava Ukraini!
itonewbie
Level 15

If you don't mean retroactively adjust but to show the proper allocation (e.g. because it's a new return), you can enter that on the Special Allocations tab in either Amount or Percentage.

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Still an AllStar