Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Sub S K1 income for close the book election
Sub S K1 income for close the book election
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
SES
Level 2
02-20-2022
04:03 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My clients have made a close the book election for a Sub S corporation. The only allocation entry I can find is for a weighted average allocation, which is not proper in this circumstance. Where can I enter the specific income and distribution information for each partner? There seems to be a place to put the allocation codes on the Individual K-1's, but now where to assign the amounts or percentages for the allocations.
Thanks,
Susan
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
