How would you decrease a member's capital account on Schedule K-1 if they abandoned their LLC interest? Would this go under "other increases (decreases)"? If so, what would the statement attached include?

[elizabeth-birdse]

Would the additional statement just say, "Member abandoned interest"?

Thank you.

[sjrcpa · Accepted solution]

Other decrease and your explanation sounds fine.

[elizabeth-birdse]

Thanks so much! You answered both of my questions. Is there any way I can buy you a coffee? 😃