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R
RB6
Level 2
February 11, 2021
Question

How do I e-file if partners have a negative ending capital account?

  • February 11, 2021
  • 1 reply
  • 11 views
Partners have negative capital b/c of a guaranteed debt and losses.    So have basis despite negative capital.  how can we e-file?
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1 reply

Accountant-Man
Accountant-Man
Level 13
February 11, 2021

IDK why you think you can't.

** I'm still a champion... of the world! Even without The Lounge.
sjrcpa
sjrcpa
Level 15
February 11, 2021

Apparently this is a new enhancement or an unexpected behavior starting today.

https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/how-can-we-e-file-with-a-negative-ending-capital/00/124894

The more I know the more I don’t know.
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