Profit allocation in 1065

[jasdlm]

4 partners in partnership; 2 main partners own equal interests and share profits/losses equally. Input screen reflects the same, but for some reason, income allocation is not matching % profit distributions entered. (Looking at actual form, profit % for each is 37%, but OI is not the same.) I realize I can change the actual dollar amount in the input screen, which I did. However, old (unequal) number is still coming through on partners capital account analysis. What could I possibly have 'clicked' that is causing this?

I am so frustrated. I'm sure it's something stupid I've done, but I can't find it. Even closed the return and reopened to no avail. I've hit 'restore' on all the calculation fields. Aaargh!

I can override the capital account analysis, but it's going to be a short-term fix as this error will likely carry through to next year.

Any ideas??? AAAAARGH!

[jklcpa]

On the K-1 Global tab, verify that your allocation & calculation options have the proper boxes marked. I have a very basic partnership return that I'm looking at as an example. On that K-1 Global tab, in my Allocation area the box that is marked is the "automatic select... (default)" option. Then in the calculation option area, that box is left blank.

If that doesn't work solve your problem quickly, this is what I'd do. Duplicate the return and using the dup then delete the K-1 form & redo just that. This method might be the least time consuming. The rest of the return is finished so you won't lose that.

[jasdlm]

Thanks much. I'll duplicate, delete k1s and start again. I've been through the Global tab and can't seem to correct the problem.

Thanks again for taking time to reply.