Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-20-2011, 09:13 PM
smokey
 
Posts: n/a
Schedule K-1

Line 2b on my Schedule K-1 Form 1041 shows 14. but line 2a shows nothing. This is the final K-1. My tax software says that line 2a has to be more than line 2b. Is this correct and what should I do?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-21-2011, 07:45 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,231
“ Is this correct and what should I do?”---> I can't tell you which box to use, as it depends on a number of factors, including the nature of the distribution and source of the funds distributed; one possbile scenariois that 2a May be return from an investment that is not considered income. The return of capital is when some or all of the money an investor has in an investment is paid back to him or her, thus decreasing the value of the investment.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Schedule C mrbittler Sole-Proprietorship 1 02-04-2011 01:24 PM
Schedule A or E Rental egmacrae Rental Real-Estate 1 12-19-2010 05:08 PM
Schedule D Line 14 SAINT44 Capital Gains 0 04-02-2010 12:13 AM
First Time Schedule C fcf1220 Sole-Proprietorship 0 04-04-2009 03:28 PM
How much of Tax preparation fees are deductible on Schedule A & Schedule C? awkan Sole-Proprietorship 1 03-23-2007 11:28 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning