Liabilities for Schedule K-1, item K

UltraTax CS defaults liabilities from the L screen in the Balance Sheet folder, other than those entered in the
All nonrecourse loans
field, as recourse liabilities at-risk. Liabilities entered in the
All nonrecourse loans
field default to nonrecourse at-risk. Use the
Liability Classification
field in the Statement window for these fields to designate a different liability classification. UltraTax CS adds these liabilities to the liabilities from passthrough entities in the K1 screen and then transfers the total amount to Schedule K-1, item K and to the Partner's Basis Worksheet.
Use the
Force
fields in the Partner Share of Liabilities section in the SepK screen in the associated activity to use an amount different from the amount UltraTax CS calculates on Schedule K-1, item K and on the Partner's Basis Worksheet.
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