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Level 4
October 28, 2023
Question

Where to enter Partner's Capital Account Analysis for Form 1065- K-1 for a Partner

  • October 28, 2023
  • 2 replies
  • 34 views

I could not find a place to enter the info in the Partners Capital Account Analysis section of a Form 1065 K-1 for a client. I think this is important as from year to year, the activities such as Current Year Net Income (Loss), Other increase and decrease as well as Withdrawals and Distributions would be best to track inside Proseries. I mainly use Proseries Basic and sometimes Proseries Basic.

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2 replies

sjrcpa
Level 15
October 28, 2023

ProSeries does not have a basis worksheet.

It is important to track basis. Create your own spreadsheet and keep in your workpapers.

The more I know the more I don’t know.
Turtle43Author
Level 4
October 28, 2023

Thank you!  I was hoping I don't have to use my own spreadsheet 🙂  Thanks for confirming Proseries does no have the Partners Capital Account Analysis.  Appreciate your response.  I was also hoping to add as a suggestion to add to the function of ProSeries.  Thanks!