How do I adjust the cost of my MLP's so that they reflect capital account Increase/decrease K-1 adj

Question

I have used "RtrnCap" to record cash capital account distributions made by my MLP's.  I cannot figure out how to get Quicken to reduce/increase MLP cost (the partner's capital account) so that it properly reflect "K-1 L current year increase/decrease."  "RtrnCap," cannot be used since it adds cash to the account.  These partnership capital adjustments do not reflect cash flowing in or out of the account.  The transactions reflect tax and accounting adjustments that need to be recorded to properly reflect the MLP's taxable cost basis .

Can anyone help me?

Thanks!

q_lurker · Accepted Answer

You can use a RtrnCapX and specify the transfer account to be the same account into which the transaction is being entered.  This type of recursive (my term)transaction is like an Opening Balance transaction and essentially makes the cash disappear into thin air.

Option b is to use a MiscExp transaction where the cash generated by the normal RtrnCap is 'spent' and applied to a category of your choosing, maybe TaxBasisAdj, or some similarly created category.