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S
ssellstrom
Level 2
April 5, 2021
Question

California K-1 Schedule I different than Federal

  • April 5, 2021
  • 2 replies
  • 7 views

Federal must be Tax Basis, but California S/B 704(b)

This topic has been closed for replies.

2 replies

George4Tacks
George4Tacks
Level 15
April 6, 2021

Screen 1 > Miscellaneous > Partner's Cap Accts (State Only) > Select from the drop down.

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    sjrcpa
    sjrcpa
    Level 15
    April 6, 2021

    If so, that only affects the capital account.

    What is your issue?

    The more I know the more I don’t know.
      S
      ssellstromAuthor
      Level 2
      April 6, 2021

      Tried to use Screen 1, Misc Info: "Partner's Cap Accts (State Only) with "Tax Basis"....did not work.  The California K-1s still show "704(b) capital accounts", rather then "Tax Basis" on Pg. 2 Sch I.

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