Hi, I just printed the K-1's using NOCA's Tax Printer and one of our withdrawn member's K-1 shows a number in the Partner's share of ending capital (section L). The ending profit and loss figures are all zero. Another withdrawn member has all zeros for her ending profit,loss and capital. I don't understand why the first member would have a number in ending capital if she is no longer a member? She withdrew and was paid on 12/31/04 wheras the other member withdrew earlier in the year.
Another question - the distribution amounts paid to these two members show up on their K-1's in Parantheses,(xxxxx), as if they are negative numbers. Is this correct? I am filling out the State K-1's by hand so I need to know if I should report the distributions as negative figures like the Fed. K-1's. In past years, we entered the distributions as a positive number. I will be giving the K-1's at our meeting Mar 9 so any advice would be most appreciated. Thanks, Gail Wilkinson ------------------------------------------------------------ TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You can change your eMail address, or the way you receive club-treasurers messages at: http://lists.better-investing.org/cgi-bin/lyris.pl?enter=club-treasurers To unsubscribe, send an eMail to YOUR PERSONAL AUTOMATED UNSUBSCRIBE ADDRESS: mailto:[EMAIL PROTECTED] ------------------------------------------------------------
