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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
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- Correcting prior years capital accounts
Correcting prior years capital accounts
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lbj-2017
Level 2
11-30-2020
09:32 PM
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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
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If nothing else is affected, use Other increase/Other Decrease.
The more I know, the more I don't know.
