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lbj-2017
Level 3
December 1, 2020

Correcting prior years capital accounts

  • December 1, 2020
  • 1 reply
  • 3 views

I need to correct two partners capital accounts for previous years.  They were not prepared correctly. I am uncertain how to do that and where to show the corrections.  Does anyone have any experience going that?  Very much appreciate any recommendations.

 

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    1 reply

    sjrcpa
    sjrcpa
    Level 15
    December 1, 2020

    If nothing else is affected, use Other increase/Other Decrease.

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