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Entering capital account distributions to partner in Lacerte

SOLVEDby Intuit127Updated over 1 year ago

Follow these steps to enter distributions in the partnership return:

  1. Go to Screen 28, Schedule M-2 (Capital Account).
  2. Scroll down to the Distributions section and locate the Cash input field.
  3. Enter the amount of the cash distributed to all partners in the Federal column.
  4. Go to Screen 29, Special Allocations and allocate to the Capital Account.
  5. Expand the Distributions section, and then Cash & Marketable Securities, to allocate the distributions to the correct partners.
  6. Select the Forms tab to review that the amounts flowed to the Schedule K-1, Withdrawals and Distributions successfully.

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