| Club officers can check the
Allocate Equally Among Members box
on the
Account Expense
form.
When checked, the expense amount affects the number
of units for each member. The number of units to debit
is computed by dividing the expense amount by the
Unit Value on the date of the expense.
This allocates the expense equally without affecting the
unit value.
To allocate expenses in proportion to each members ownership
in the club, leave the box unchecked. The expense will
not affect member units and the club unit value
will decrease.
Note - the selection of Allocate Equally Among Members
should only be made if such selection is expressly defined and
permitted in the clubs partnership agreement and such selection
is in accordance with IRS regulations.
For more information, please see
IRS Publication #541 - Partnerships - Figuring Distributive Share
For more information about the
Account Expense form,
please read
Account Transactions.
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