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

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

• Entering and Specially Allocating Capital Accounts for a 1065 return
• How to enter a change in ownership on Form 1065
• How to zero out partner capital accounts in a final year
• How to generate or suppress the balance sheet, M-1, and M-2 on Form 1065