ProConnect HelpIntuit HelpIntuit

Why is partners' capital account analysis blank for Schedule K-1, Item L (1065)?

SOLVEDby Intuit13Updated over 1 year ago

The most common reason for Form 1065 Schedule K-1, Item L, partners' capital account analysis being blank is that Form 1065, Schedule B, Question 6 is marked "Yes" in ProConnect Tax.

When this question is marked "Yes," the following items aren't completed based on the IRS instructions:

  • Schedule L
  • Schedule M-1
  • Schedule M-2
  • Form 1065, page 1, Item F
  • Schedule K-1, Item L

Refer to the IRS Partner's Instructions for Schedule K-1 for more information.

Follow these steps to generate the above items if the Question 6 requirements are met box is checked:

  1. Go to the Input Return tab.
  2. From the left of the screen, select Balance Sheet, M-1, M-2.
  3. Choose Balance Sheet Miscellaneous from the dropdown menu.
  4. Locate the Balance Sheet Miscellaneous section.
  5. Scroll down to the Other subsection.
  6. Check the box labeled Schedules L, M-1, and M-2: 1=force, 2=when applicable [Override].

Related topics

Was this helpful?

You must sign in to vote, reply, or post
ProConnect Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads