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

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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)

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