1065 help!

[Super Mom]

Please forgive my ignorance on this, I'm slightly new with Partnerships. I'm preparing a 1065 and must do Sced L, M-1 and M-2. My question is, on Shed M-2 is it appropriate to show the draws (which were a reduction in the equity accounts) as Line 7 "other decreases" because they're not a distribution right? or are they a distribution, which means they need to be put on Sched.K? HELP!

[ChEAr$]

Please forgive my ignorance on this, I'm slightly new with Partnerships. I'm preparing a 1065 and must do Sced L, M-1 and M-2. My question is, on Shed M-2 is it appropriate to show the draws (which were a reduction in the equity accounts) as Line 7 "other decreases" because they're not a distribution right? or are they a distribution, which means they need to be put on Sched.K? HELP!

First, be sure you are absolutely required to go that far. See the four conditions on page 3.

but if yes, then there is a line (line 6?) for distirbutions of cash and/or property.

[Super Mom]

Yes, I must go that far, and I see that the withrawals are distributions now. Thanks!