Ending Capital Accounts - Final Tax Return
Can someone please assist me with this situation?
I have a final partnership tax return where the partners have positive balances in the ending capital accounts. But since schedules L, M1 and M2 don't have to be completed because of answering "Yes" to question 6 on Schedule B, Schedule L is then blank on the K-1s. How should this be handled to show that there are positive balances in the capital accounts?
If I choose to have Schedules L, M1 and M2, then the balance sheet will not balance since everything else has been zeroed out.
Thanks very much!