How do I override 1065 Schedule K-1, Item L carried to the Other increase (decrease) Line and the Current Year net income (loss) line in a 1065 return using worksheet view?
- Article Type:
- How To
- Last Modified:
- 11/05/2022
Objectives
To override 1065 Schedule K-1, Item L carried to the Other increase (decrease) Line and the Current Year net income (loss) line in a 1065 return using worksheet view?
Environment
- CCH Axcess Tax
- CCH ProSystem fx Tax
- 1065
- 2019
- Worksheet View
- Schedule K-1
Procedure
To override the Current year net income (loss) amount, do the following:
To override the Other increase (decrease) amount, do the following:
- Go to the Partners > Partner Information worksheet.
- Select the desired partner and click Detail.
- Select Section 2 - Partner's Capital Account.
- In Line 4 - Current year increases (decreases), enter the amount.
- Select Section 2 - Partner's Capital Account.
- Go to the Partners > General Options worksheet.
- Select Section 2 - Schedule K-1 Calculation Options.
- In Line 17 - Use the partner information, current year net income (loss) entries, as an override, select the checkbox.
- Select Section 2 - Schedule K-1 Calculation Options.
- Calculate the return.
To override the Other increase (decrease) amount, do the following:
- Go to the Partners > Partner Information worksheet.
- Select the desired partner and click Detail.
- Select Section 5 - DE's Information/Section 704(c) Gain(Loss)/Other Options.
- In Line 3 - Other increases (decreases). enter the desired amount.
- Select Section 5 - DE's Information/Section 704(c) Gain(Loss)/Other Options.
- Go to the Partners > General Options worksheet.
- Select Section 2 - Schedule K-1 Calculation Options.
- In Line 18 - Use the partner information, other increases (decreases) entries, as an override, select the checkbox.
- Select Section 2 - Schedule K-1 Calculation Options.
- Calculate the return.
Additional Information
| Solution Id | 000238174/How-do-I-override-1065-Schedule-K-1-Item-L-carried-to-the-Other-increase-decrease-Line-and-the-Current-Year-net-income-loss-line-in-a-1065-return-using-worksheet-view |
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| Direct Link |
