Harbor Equities LLC draft v1 — Family Office App Demo

Harbor Equities LLC — 2025 draft v1

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Status Draft received

Expected K-1s / 1099s for Harbor Equities LLC · 2025

Documents received

Still outstanding

Files on the return

Figures keyed

1 expected K-1/1099 has not arrived. A draft prepared while documents are outstanding may be complete anyway — but check that before agreeing the pass-through lines. See the full list on Workpapers →

The draft

No draft return selected yet. Drop it below, or pick one already on the file from Draft PDF above. Figures can still be keyed without it.

Documents on this return (1)

Workpapers, the financials the return was built from, depreciation schedules, the preparer's email — all of it belongs here. Whichever one IS the return, set as Draft PDF above; the tie-out reads that one.

Draft 1065 - Harbor Equities LLC 2025.pdf 1183 KB Oct 06

▾ Form 8825 vs the owner / TIC statement

Line	Description	Per return	Per statement	Difference
2a	Gross rents	—	$880,000	—
18	Total rental real estate expenses	—	$95,000	—
19	Net income from rental real estate The statement carries no depreciation or amortisation; the adjusted comparison is on the Review list.	—	$785,000	—

Statement figures come from the summary figures captured by hand — attach the statement PDF to the owner-statement record for the full line-by-line ledger.

0 of 6 schedules reviewed

Net income has not been compared yet. No bottom-line figure has been compared yet, so nothing is being asserted about net income.

0 tie · 0 differ · 52 not evaluable yet. Every difference is shown, however small. Click a row to see what it is made of and record your call — material or immaterial is yours, nothing is filtered by size.

▾ Page 1 — Income and Deductions ties 0/4 lines reviewed

Line	Per draft	Expected	Difference	Result	Compared against
Page 1: gross profit = receipts less COGS Page 1 line 3	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: page1 line 3 · page1 line 1c · page1 line 2. Nothing is being asserted about this check — key those figures and it will evaluate.
Page 1: ordinary business income = total income less deductions Page 1 line 22	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: page1 line 22 · page1 line 8 · page1 line 21. Nothing is being asserted about this check — key those figures and it will evaluate.
Page 1: total deductions foot Page 1 line 21	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: page1 line 21 · page1 line 9 · page1 line 10 · page1 line 11 · page1 line 12 · page1 line 13 · page1 line 14 · page1 line 15 · page1 line 16c · page1 line 17 · page1 line 18 · page1 line 19 · page1 line 20. Nothing is being asserted about this check — key those figures and it will evaluate.
Page 1: total income foots Page 1 line 8	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: page1 line 8 · page1 line 3 · page1 line 4 · page1 line 5 · page1 line 6 · page1 line 7. Nothing is being asserted about this check — key those figures and it will evaluate.

▾ Form 8825 — Rental Real Estate Income and Expenses ties 0/3 lines reviewed

Line	Per draft	Expected	Difference	Result	Compared against
Form 8825: income from the property = total income less expenses Form 8825 line 19	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: 8825 line 19 · 8825 line 2c · 8825 line 18. Nothing is being asserted about this check — key those figures and it will evaluate.
Form 8825: total expenses foot (lines 3 through 17) Form 8825 line 18	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: 8825 line 18 · 8825 line 3 · 8825 line 4 · 8825 line 5 · 8825 line 6 · 8825 line 7 · 8825 line 8 · 8825 line 9 · 8825 line 10 · 8825 line 11 · 8825 line 12 · 8825 line 13 · 8825 line 14 · 8825 line 17. Nothing is being asserted about this check — key those figures and it will evaluate.
Form 8825: total rental income = gross rents plus other Form 8825 line 2c	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: 8825 line 2c · 8825 line 2a · 8825 line 2b. Nothing is being asserted about this check — key those figures and it will evaluate.

▾ Schedule K — Partners' Distributive Share ties 0/25 lines reviewed

Line	Per draft	Expected	Difference	Result	Compared against
Documents received: Cash contributions Schedule K line 13a	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 13a has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Distributions of cash and marketable securities Schedule K line 19a	—	$160,000	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 19a has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Interest income Schedule K line 5	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 5 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Investment interest expense Schedule K line 13c	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 13c has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Net earnings (loss) from self-employment Schedule K line 14a	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 14a has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Net long-term capital gain (loss) Schedule K line 9a	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 9a has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Net rental real estate income (loss) Schedule K line 2	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 2 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Net section 1231 gain (loss) Schedule K line 10	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 10 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Net short-term capital gain (loss) Schedule K line 8	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 8 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Nondeductible expenses Schedule K line 18c	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 18c has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Ordinary business income (loss) Schedule K line 1	—	$204,800	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 1 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Ordinary dividends Schedule K line 6a	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 6a has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Other deductions Schedule K line 13e	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 13e has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Other income (loss) Schedule K line 11	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 11 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Other net rental income (loss) Schedule K line 3c	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 3c has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Other tax-exempt income Schedule K line 18b	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 18b has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Qualified dividends Schedule K line 6b	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 6b has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Royalties Schedule K line 7	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 7 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Section 179 deduction Schedule K line 12	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 12 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Tax-exempt interest income Schedule K line 18a	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 18a has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Documents received: Unrecaptured section 1250 gain Schedule K line 9c	—	$0	—	not evaluable	proforma from 1 received document(s)
Waiting on: Schedule K line 9c has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The pro-forma counts only documents that have ARRIVED, so it is a FLOOR. A draft above it is normal while K-1s are outstanding; a draft BELOW it means the return reports less than we hold paper for.
Form 8825 net rental income carries to Schedule K line 2 Schedule K line 2	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: K line 2 · 8825 line 23. Nothing is being asserted about this check — key those figures and it will evaluate. The whole rental operation reaches the partners through this one line. If it does not carry, every per-partner allocation is wrong.
Owner's statement (our column): Net rental real estate income (loss) Schedule K line 2	—	$785,000	—	not evaluable	owner_statement our share, as the statement printed it
Waiting on: Schedule K line 2 has not been keyed off the draft. Nothing is being asserted about this check — key those figures and it will evaluate. The statement is on a BOOK basis, so the full book-to-tax bridge sits between this and Schedule K — depreciation, §704(b) and M-1 adjustments. Treat it as context.
Schedule K line 1 ties to page 1 line 22 Schedule K line 1	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: K line 1 · page1 line 22. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-1 line 9 ties to Analysis of Net Income line 1 Schedule K line an1	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: K line an1 · M1 line 9. Nothing is being asserted about this check — key those figures and it will evaluate.

▾ Schedule L — Balance Sheets ties 0/8 lines reviewed

Line	Beginning of year			End of year
Line	Per draft	Expected	Diff	Per draft	Expected	Diff
Schedule L (beg): depreciable assets net of accumulated line 9b	—	—	—	—	—	—
Schedule L (beginning): liabilities and capital foot line 22	—	—	—	—	—	—
Schedule L (beginning): total assets foot line 14	—	—	—	—	—	—
Owner's statement (our column): Cash line 1				—	$0	—
Owner's statement (our column): Partners' capital accounts line 21				—	$7,700,000	—

▾ Schedule M-1 — Book/Tax Reconciliation ties 0/3 lines reviewed

Line	Per draft	Expected	Difference	Result	Compared against
Schedule M-1 line 5 foots Schedule M-1 line 5	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M1 line 5 · M1 line 1 · M1 line 2 · M1 line 3 · M1 line 4. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-1 line 8 foots Schedule M-1 line 8	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M1 line 8 · M1 line 6 · M1 line 7. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-1 line 9 = line 5 less line 8 Schedule M-1 line 9	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M1 line 9 · M1 line 5 · M1 line 8. Nothing is being asserted about this check — key those figures and it will evaluate.

▾ Schedule M-2 — Partners' Capital Accounts ties 0/6 lines reviewed

Line	Per draft	Expected	Difference	Result	Compared against
Schedule M-2 distributions tie to Schedule K line 19a Schedule M-2 line 6	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M2 line 6 · K line 19a. Nothing is being asserted about this check — key those figures and it will evaluate. These can legitimately differ when M-2 also carries property distributions or a non-cash item. Raise it and mark it explained.
Schedule M-2 ending capital = line 5 less line 8 Schedule M-2 line 9	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M2 line 9 · M2 line 5 · M2 line 8. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-2 ending capital ties to Schedule L ending partners' capital Schedule M-2 line 9	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M2 line 9 · L_end line 21. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-2 line 5 foots Schedule M-2 line 5	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M2 line 5 · M2 line 1 · M2 line 2 · M2 line 3 · M2 line 4. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-2 line 8 foots Schedule M-2 line 8	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M2 line 8 · M2 line 6 · M2 line 7. Nothing is being asserted about this check — key those figures and it will evaluate.
Schedule M-2 opening capital ties to Schedule L beginning partners' capital Schedule M-2 line 1	—	—	—	not evaluable	arithmetic the return's own footing
Waiting on: M2 line 1 · L_beg line 21. Nothing is being asserted about this check — key those figures and it will evaluate.

What the figures OUGHT to be, from what this platform already holds. Each source below either resolved or says why it did not — a comparison that did not run is not agreement. The bases are different and are not interchangeable, so each row says what it was compared against.

Documents received (pro-forma) — K-1s and 1099s on hand

Schedule K built from 1 received document(s). This is a floor: a draft above it is the normal state while K-1s are outstanding; a draft below it means the return reports less than we hold paper for.

Cash we received

No investment of ours resolves to "Harbor Equities LLC" by name, so there is no distribution history to compare against.

Gross-up — the partnership's total x our share

No distributions figure on a captured owner/TIC statement, so there is no total to gross up from.

Owner's / TIC statement — our column — Harbor Equities LLC · Book basis

Edit our column

Our entity / column Property Our share % Period Basis Source file

Enter our column exactly as printed — the statement has already allocated our share, so nothing here is multiplied by the percentage. Leave a box blank if the statement does not carry that line; blank means “not reported”, 0 means “the statement says zero”.

Total revenue Total expense Total operating expenses Interest Depreciation / amortisation NET INCOME Distributions Capital contributed Total cash Total assets Total liabilities Mortgage payable Total capital Capitalised loan costs …amortised over (years)

Capitalised loan costs is the mortgage-cost asset the statement carries and never writes down — a manager has no reason to. The return amortises it, so it is a real difference that no figure on either document announces. Enter it with the term and it comes out of the comparison exactly like depreciation; leave it blank and nothing is assumed.

Notes

Feeds Sch K line 2, 19a, and the Schedule L lines on the Expected tab.

Operating statements

No investment of ours resolves to "Harbor Equities LLC" by name.

The drafts above and below (family stack)

Harbor Equities LLC sits in the family stack, but nothing keyed on Schedule K to allocate upward.

The K-1 they issued us

No investment of ours resolves to "Harbor Equities LLC", so this looks like a return we file rather than one we receive.

QuickBooks — the books

Not pulled yet — QuickBooks is a live call, so it runs only when asked for rather than on every page load.

Reads the figures off the draft PDF so you don't key them by hand. Nothing is ever applied automatically — what comes back is a proposal you accept line by line, each showing the page it was read from so you can check it against the PDF on the left. Every footing check re-runs the moment a figure lands, which is what catches a mis-read one.

No draft PDF is selected for this draft. Attach the return and pick it in "Draft PDF" first.

Enter every figure exactly as it appears on the form, including its sign. Where a form prints a line in parentheses because the line below subtracts it (M-2 distributions, 1040 line 14), key the positive number shown — the checks carry the minus. Leave a box blank if you have not keyed it: blank means “not checked”, and 0 means “the draft says zero”. Lines shown indented are memo figures — a subset of the line above, never added into a total.

Page 1 — Income and Deductions

Line	Description	Per draft	Expected	Variance
1c	Gross receipts or sales, less returns and allowances
2	Cost of goods sold
3	Gross profit
4	Ordinary income (loss) from other partnerships, estates, and trusts This is where a lower-tier K-1 we hold should land.
5	Net farm profit (loss)
6	Net gain (loss) from Form 4797
7	Other income (loss)
8	Total income (loss)
9	Salaries and wages
10	Guaranteed payments to partners
11	Repairs and maintenance
12	Bad debts
13	Rent
14	Taxes and licenses
15	Interest
16c	Depreciation
17	Depletion
18	Retirement plans, etc.
19	Employee benefit programs
20	Other deductions
21	Total deductions
22	Ordinary business income (loss)

Blank clears a figure back to “not keyed”.

Form 8825 — Rental Real Estate Income and Expenses

Line	Description	Per draft	Expected	Variance
2a	Gross rents
2b	Other income related to rental real estate activity
2c	Total rental real estate income
3	Advertising
4	Auto and travel
5	Cleaning and maintenance
6	Commissions
7	Insurance
8	Interest
9	Legal and other professional fees
10	Real estate taxes
11	Repairs
12	Utilities
13	Wages and salaries
14	Depreciation An owner/TIC statement carries no depreciation — each member elects their own — so this line is expected to have no counterpart there. It is also the cleanest source for the year’s charge.
17	Other deductions (Schedule A)
18	Total rental real estate expenses
19	Income or (loss) from each rental real estate property
20a	Total rental real estate income (all properties)
20b	Total rental real estate expenses (all properties)
23	Net rental real estate income (loss) Carries to Schedule K line 2.

Blank clears a figure back to “not keyed”.

Schedule K — Partners' Distributive Share

Line	Description	Expected	Variance
1	Ordinary business income (loss)	$204,800 proforma	not keyed
2	Net rental real estate income (loss)	$785,000 owner_statement	not keyed
3c	Other net rental income (loss)	$0 proforma	not keyed
4c	Total guaranteed payments
5	Interest income	$0 proforma	not keyed
6a	Ordinary dividends	$0 proforma	not keyed
6b	Qualified dividends	$0 proforma	not keyed
7	Royalties	$0 proforma	not keyed
8	Net short-term capital gain (loss)	$0 proforma	not keyed
9a	Net long-term capital gain (loss)	$0 proforma	not keyed
9c	Unrecaptured section 1250 gain	$0 proforma	not keyed
10	Net section 1231 gain (loss)	$0 proforma	not keyed
11	Other income (loss)	$0 proforma	not keyed
12	Section 179 deduction	$0 proforma	not keyed
13a	Cash contributions	$0 proforma	not keyed
13c	Investment interest expense	$0 proforma	not keyed
13e	Other deductions	$0 proforma	not keyed
14a	Net earnings (loss) from self-employment	$0 proforma	not keyed
16	Foreign transactions — total
17a	Post-1986 depreciation adjustment (AMT)
18a	Tax-exempt interest income	$0 proforma	not keyed
18b	Other tax-exempt income	$0 proforma	not keyed
18c	Nondeductible expenses	$0 proforma	not keyed
19a	Distributions of cash and marketable securities	$160,000 proforma	not keyed
20a	Investment income
20b	Investment expenses
an1	Analysis of Net Income (Loss) — line 1

Blank clears a figure back to “not keyed”.

Schedule L — Beginning of tax year

Line	Description	Per draft	Expected	Variance
1	Cash
2b	Trade notes and accounts receivable (net)
5	Tax-exempt securities
8	Other investments
9a	Buildings and other depreciable assets (gross cost)
9a_acc	Less accumulated depreciation
9b	Buildings and other depreciable assets (net)
13	Other assets
14	Total assets
15	Accounts payable
16	Mortgages, notes, bonds payable in less than 1 year
17	Other current liabilities
18	All nonrecourse loans
19b	Mortgages, notes, bonds payable in 1 year or more
20	Other liabilities
21	Partners' capital accounts
22	Total liabilities and capital

Blank clears a figure back to “not keyed”.

Schedule L — End of tax year

Line	Description	Expected	Variance
1	Cash	$0 owner_statement	not keyed
2b	Trade notes and accounts receivable (net)
5	Tax-exempt securities
8	Other investments
9a	Buildings and other depreciable assets (gross cost)
9a_acc	Less accumulated depreciation
9b	Buildings and other depreciable assets (net)
13	Other assets
14	Total assets	$7,700,000 owner_statement	not keyed
15	Accounts payable
16	Mortgages, notes, bonds payable in less than 1 year
17	Other current liabilities
18	All nonrecourse loans
19b	Mortgages, notes, bonds payable in 1 year or more
20	Other liabilities
21	Partners' capital accounts	$7,700,000 owner_statement	not keyed
22	Total liabilities and capital

Blank clears a figure back to “not keyed”.

Schedule M-1 — Book/Tax Reconciliation

Line	Description	Per draft	Expected	Variance
1	Net income (loss) per books Ties to the QuickBooks P&L for this entity — this IS a book number, so the usual "book differs from tax" caveat does not apply here.
2	Income included on Schedule K not recorded on books
3	Guaranteed payments (other than health insurance)
4	Expenses recorded on books not included on Schedule K
5	Total of lines 1 through 4
6	Income recorded on books not included on Schedule K
7	Deductions on Schedule K not charged against book income
8	Total of lines 6 and 7
9	Income (loss) — Analysis of Net Income line 1

Blank clears a figure back to “not keyed”.

Schedule M-2 — Partners' Capital Accounts

Line	Description	Per draft	Expected	Variance
1	Balance at beginning of year
2	Capital contributed during year
3	Net income (loss)
4	Other increases
5	Total of lines 1 through 4
6	Distributions Enter as printed (positive) — line 9 subtracts it.
7	Other decreases Enter as printed (positive) — line 9 subtracts it.
8	Total of lines 6 and 7
9	Balance at end of year

Blank clears a figure back to “not keyed”.

Schedule K-1 — per partner

No prior-year draft on file for Harbor Equities LLC on this form. That is not “no changes” — there is simply nothing to compare against. The comparison starts working once a second year has been reviewed here.

Questions for Lakeside CPA Group

No review points yet. Raise them from a tie-out row, or add one below.

Open and sent points lead the Word memo — it is written to be sent, not filed.

Expected K-1s / 1099s for Harbor Equities LLC · 2025

The draft

Documents on this return (1)

▾ Form 8825 vs the owner / TIC statement

▾ Page 1 — Income and Deductions ties 0/4 lines reviewed mark reviewed

▾ Form 8825 — Rental Real Estate Income and Expenses ties 0/3 lines reviewed mark reviewed

▾ Schedule K — Partners' Distributive Share ties 0/25 lines reviewed mark reviewed

▾ Schedule L — Balance Sheets ties 0/8 lines reviewed mark reviewed

▾ Schedule M-1 — Book/Tax Reconciliation ties 0/3 lines reviewed mark reviewed

▾ Schedule M-2 — Partners' Capital Accounts ties 0/6 lines reviewed mark reviewed

Page 1 — Income and Deductions

Form 8825 — Rental Real Estate Income and Expenses

Schedule K — Partners' Distributive Share

Schedule L — Beginning of tax year

Schedule L — End of tax year

Schedule M-1 — Book/Tax Reconciliation

Schedule M-2 — Partners' Capital Accounts

Schedule K-1 — per partner

Questions for Lakeside CPA Group

▾ Page 1 — Income and Deductions ties 0/4 lines reviewed

▾ Form 8825 — Rental Real Estate Income and Expenses ties 0/3 lines reviewed

▾ Schedule K — Partners' Distributive Share ties 0/25 lines reviewed

▾ Schedule L — Balance Sheets ties 0/8 lines reviewed

▾ Schedule M-1 — Book/Tax Reconciliation ties 0/3 lines reviewed

▾ Schedule M-2 — Partners' Capital Accounts ties 0/6 lines reviewed