Question
1065 Transfer of ownership after death
I have a 1065. K1 owners are dad and two daughters. Dad passed in 2025. The two daughters have received his ownership interest.
I have entered the dads date of death and new ownership % on the "addl K1 info" tab - "weighted average computation" section - I put this on for the dad (going to 0%) and the two daughters now going to 50% each. So the current year income is now being allocated correctly based on 2 months at the old ownership % and 10 months at the new ownership % (dad died 2/28/25).
However, I can't figure out how to transfer his capital account amount from dad to the 2 girls. He is still showing $15,111 of "ending capital account" on his K1.
Can someone help?
Thank you!
