SCorp Partner and the Balance Sheet

[BHoffman]

If an SCorp is a Partner in another company, does its capital in that partnership show up on its balance sheet as an investment asset?

I'm under the gun and have to finish this by Tuesday. Any help would sure be appreciated.

[John of PA]

Yes

I would say yes......... Under Other Assets called ...... Investment in XYZ Partnership, at cost.

[DMICPA]

S-Corp as a partner

I agree with John

[BHoffman]

Thanks for the help! I was able to get the financials finished in time.

Now for the tax return....

Do I make an M1 adjustment for the income from the partnership K1? I did this and was able to reconcile the M2 with the Retained Earnings.