Drake Tax – 1065: Return Does Not Balance – Capital Account

Article #: 13240

Last Updated: November 06, 2024

 


Tags: Drake Tax

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Return Note 044 is produced because the beginning of the year amounts don't balance between Schedule L, line 21, and Schedule M-2, line 1. Line 21 of the balance sheet (Schedule L) refers to partner capital accounts. Entry points are located on the K1 screen in Section L for each partner.

An entry on the L screen for line 21 may also affect the outcome.

Note   

In View/Print mode, worksheets WK_PCAR and WK_M2 may be helpful.

Note 044 refers to both beginning and ending capital account discrepancies.