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    • Created with Sketch. See what's trending for the upcoming tax season. Lacerte | ProConnect | ProSeries
    Created with Sketch. See what's trending for the upcoming tax season. Lacerte | ProConnect | ProSeries
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    Correcting prior years capital accounts

    lbj-2017
    Level 2
    ‎11-30-2020 09:32 PM

    I need to correct two partners capital accounts for previous years.  They were not prepared correctly. I am uncertain how to do that and where to show the corrections.  Does anyone have any experience going that?  Very much appreciate any recommendations.

     

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    1 Comment 1
    sjrcpa
    Level 15
    ‎12-01-2020 09:02 AM

    If nothing else is affected, use Other increase/Other Decrease.

    The more I know, the more I don't know.
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