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When there is a net negative 743(b) adjustment, 11V cannot be implemented by adjusting within the 199A section. You have to go to "less common scenarios" and enter the amount as a negative in part I of that form. If the 743(b) adjustment is a net positive, the same block is used to enter the amount as a positive number.
Can anybody clarify how (where) in Proconnect do I input the 743(b)-adjustment reported by partner K-1 into ProConnect 2022 1040?
Your reply or direction would be appreciated.
Howard Postal
Section 743(b) Reporting
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