1065-US: Allocating beginning capital to the partners (FAQ)

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Question

How is beginning capital allocated to the partners?

Answer

Beginning capital is allocated, or not allocated, based on whether the client was proforma'd, converted, or new.

Note: Beginning capital can also be allocated in Partner Data Entry. Choose View > Partner Information, click the Allocations button, and enter the partner amounts in the column automatically established for beginning capital.

Related topic: Allocating partnership items to partners FAQs (1065)

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