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September 25, 2023
Discussion ongoing

add a diagnostic to check screen 32.1 for partnership property distribution statement completeness

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  • September 25, 2023
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I recently input multiple distributions of property  from the partnership to the members.  All information was input correctly to the two Distribution boxes in screen 28, and allocated to each partner on screen 29.  However, it is screen 32.1 that actually generates the K-1 statement for line 19 C property distributions - not screen 28.  I had input one of the properties to screen 32.1, but not all so my statement did not tie out to the Schedule L on the K-1 or Schedule M-2. 

I suggest a diagnostic warning to check your screen 32.1 entries, since that's what generates the K-1 statement, tie to your M-2 entries.    

Or like the cash distributions, if no further detail is input to screen 32.1, the statements defaults to the partnership percentages and allocates the details input to screen 28 based on the partner's ownership.

1 reply

October 10, 2023

Thanks for the idea to add a diagnostic to check screen 32.1 for partnership property distribution statement completeness. We are changing the status to "Open for voting" since it has been around for over 30 days and no longer considered "New".

Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular.>> Lacerte Idea Exchange

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