State of CA special allocations

[robertdyba]

Hello all,

I have entered special allocations and the federal K-1's schedule L look right. 

1. Do the profit, loss percentages at K-1 box J reflect special allocations or do the reflect what will be the split once special allocations are finished.

2. CA K-1 (568) is making massive adjustments at column (c) row 1. I suspect it is unwinding the special allocations. Is there a way to override that? Is it doing something else?

[robertdyba]

I crunched some more numbers and the program wants to "unwind" the special allocations for state purposes. Do I overide this somewhere to change box (C) and/or box (E) or do the partnership percentages need to reflect the special allocations? I was told that percentages should reflect what will be normal once special allocations are over. Maybe not.....

[abctax55]

Unless you care to divulge exactly WHAT software you are using, no one can begin to help you.

Intuit provides Lacerte, ProSeries, PTO as well as Turbooooooo Tax

[robertdyba]

ProConnect.