1065-US: Selecting the capital account accounting method for Schedule K-1, item L (FAQ)

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

Question

Where do I select the capital account accounting method for Schedule K-1, item L?

Answer

Enter the accounting method used to report capital on Schedule K-1 in the Capital account accounting method field or the Other (specify) field in Screen K1Misc in the Partner Info, Basis folder. The selection does not change how UltraTax CS calculates the partners' capital accounts on Schedule K-1.

Related topic: Partner capital FAQs (1065)

Share This