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Level 1
May 6, 2021
Question

How do you add a statement to the Form 1065 for the Section 743(b) adjustment?

  • May 6, 2021
  • 1 reply
  • 17 views
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1 reply

IntuitRebecca
Level 6
May 7, 2021

Hi there,

If you've set the assets to "743(b) Schedule K only" or "743(b) Schedule K and M-1" as the Special Allocation option, the statement should automatically generate with the 1065 for Schedule K, Line 13d other deductions. If you're not familiar with setting that up in ProConnect, try this article:

https://proconnect.intuit.com/community/partnership/help/entering-section-754-743-b-or-other-specially-allocated/00/5376

- Rebecca