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Adjusting the partners Capital Basis to Tax Basis

nesanel
Level 1

I have entered the adjustments on each of the Partners begging capital basis, and  I clicked the box on schedule M2 to recomputed the schedule and the BS on schedule is getting off balance by the difference between Book And Tax income. 

Line 3 from schedule M2 analysis Book income is picking up Tax income.?

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1 Comment 1
ihan
Employee
Employee

Please see the Tax help in the program on Schedule M2 line 3 and Form 1065 instruction page 56.

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