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

by Intuit Updated 2 months 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].

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