Why wrong capital amount?
In the ProConnect Tax Online, in the Partnership Return, each partner's capital account balance should be the same amount as the end-year capital account balance of the previous year's ending balance, but, while the total capital account of the beginning balance matches to the last year's capital balance, each partner's capital balance as of the beginning balance shown in each partner's K-1 was wrongly calculated by the Program, showing a completely different amount. The per-partner's capital percentages are correct and yet, it looks as if the program automatically allocate that total amount based on the ENDING percentage of the CURRENT year, so that the beginning capital amount of each partner completely differs from the last year's capital balance for each partner.
The accurate amounts are entered in the basis worksheets, but none of these entries are not reflected in the capital account calculation. And there is no place where I could enter the accurate capital balance for both beginning and ending balances for each partner to reflect the accurate Beginning Capital amount for each partner.
The critical problem is that the program automatically calculate each partner's BEGINNING capital amount based on the current year's ENDING percentage.
How to fix this critical problem, when there is place to manually enter each partner's beginning capital amount?