I've done partnerships two ways -- in the case of a real estate partnership
(not limited, but general) I did it as an asset account (where I tracked
changes in equity capital as decreases and/or increases and distributions as
transfers). In the case of a hedge fund investing in commodities (and
therefore required to mark to market annually), I've classified it as a
mutual fund.
--
Michael Gordon


"Donald S. Goldman" <don[at]mytrashmail.com> wrote in message
news:OVvcv%23mGHHA.4804[at]TK2MSFTNGP03.phx.gbl...
- quote -

I have a small interest in a real estate partnership (7I get periodic
payments and at the end of the year a K-1 showing the income (which
because of depreciation and the like is not the same as the
distribution). What is the best way to set this asset up? How do i
record the distributions and the actual income?