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Level 2
March 2, 2022
Solved

Partnership special allocation

  • March 2, 2022
  • 1 reply
  • 11 views

Can someone point me to how to do special allocation on Recourse partnership debt.

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Best answer by Lord Happy

Happy day...put a letter in the box next to the recourse debt, then go to each partner's K1 and enter their corresponding amount in the box that matches the letter you entered next to recourse debt. 

1 reply

Lord Happy
Level 5
March 3, 2022

Happy day...put a letter in the box next to the recourse debt, then go to each partner's K1 and enter their corresponding amount in the box that matches the letter you entered next to recourse debt.