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davetodd11
Level 5
January 24, 2024
Solved

Why don't Partner Capital Accounts amounts match between Form 1065 Schedules L and M-2?

  • January 24, 2024
  • 2 replies
  • 15 views
On Form 1065, p.6, Schedule L, Line 21 "Partner Capital Accounts", the amount indicated is $232,288.  The cross reference indicates this data is being pulled from Schedule M-2, Line 9.  However, that amount is $232,285.  Why is there a $5 difference?
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Best answer by Norman2001

I had a similar problem. I clicked on Sch L Line 21 Box and pressed the Delete key. This cleared the wrong amount and updated with the correct amount. 

2 replies

IRonMaN
IRonMaN
Level 15
January 24, 2024

My math says a 3 dollar difference probably due to rounding?

Slava Ukraini!
    N
    Norman2001Answer
    Level 6
    January 24, 2024

    I had a similar problem. I clicked on Sch L Line 21 Box and pressed the Delete key. This cleared the wrong amount and updated with the correct amount. 

      D
      davetodd11Author
      Level 5
      January 24, 2024

      Thanks Norman.  The most bizarre fix - and it worked!

        N
        Norman2001
        Level 6
        January 24, 2024

        A new "feature" I think.

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