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CCH Axcess Tax

Capital Account Summary

There are two different capital account summaries to help reconcile the partners' capital accounts: a basic summary and an expanded summary.

The basic summary lists the partners' capital account amounts from Schedules K-1, Item L, by partner number only. The partners' capital accounts are totaled at the end of the summary.

The expanded summary reports a complete set of partner information including the full partner name, address, and identifying number in addition to the partner's portion of the capital accounts. As with the basic summary, the partners' capital accounts are totaled at the end of the summary.

In the Return Configuration Set, you can choose either the basic summary statement or the expanded summary or you can suppress the print of both summaries. Use this box to override the the Return Configuration Set entry or to indicate your choice if you have not done so in the Return Configuration Set.

Enter"Basic Capital Account Summary" if you want the basic statement. If you leave this field blank and you have not made an entry in the Return Configuration Set, the System default is to print the basic summary statement.

Enter "Expanded Capital Account Summary" if you want the expanded summary statement.

Enter "Suppress Capital Account Summary" to suppress the summaries.

Valid codes for these fields: