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qtp-clayton
Level 2
March 14, 2021
Solved

S-Corp recieved 1065 k-1. How to show distributions (19A)? Out of balance by same amount.

  • March 14, 2021
  • 1 reply
  • 15 views

My S-Corp client is a partner and we recently received the K-1 from the partnership. I am out of balance by the amount of my distributions from the partnership to the s-corp, box 19A. Any ideas?

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Best answer by rbynaker

Through the magic of double-entry bookkeeping that means you're off somewhere else too.

Dr.  Cash
    Cr.  Investment in XYZ Partnership
        To record XYZ Partnership distribution

 

1 reply

rbynaker
rbynakerAnswer
Level 13
March 14, 2021

Through the magic of double-entry bookkeeping that means you're off somewhere else too.

Dr.  Cash
    Cr.  Investment in XYZ Partnership
        To record XYZ Partnership distribution

 

    abctax55
    abctax55
    Level 15
    March 14, 2021

    delete

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