The transfer of interest is not taking the percentage of profit and loss to zero on a terminating partner for a 1065 return in CCH Axcess™ Tax, CCH® Global fx Tax, or CCH® ProSystem fx® Tax.

This is a change to the software for 2017 to comply with 1065 Schedule K-1 instructions. When selected, the information diagnostic 30740 issues for this.

Diagnostic 30740 Text:
"Schedule K-1.  The default ending Profit and Loss percentages printed on the Schedules K-1, Part II, item J for all Partners who were involved in a transfer of Interest that resulted in a termination of their interest will be equal to their Profit and Loss percentages immediately before the termination. This will result in the total ending Profit and Loss percentages printed on the Schedules K-1 exceeding 100%. If the partner's interest was changed, but not terminated, then the Profit and Loss percentages in effect at the end of the partnership year are used. The percentages can be changed by entering the desired Profit and Loss percentages  on the Other Payments / Printing Percentage Overrides / Other Options section of the Partner Information worksheet."
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