swaitsandClaude Opus 5.5
a7f3cc09a9
check / check (push) Canceled after 0s
Members' shares of earnings are split cumulatively by largest remainder in the closes, the members' equity statement, the K-1 worksheet and the viewer, so a member's capital on a given day never moves by a cent when its month is later closed. Old closes replay as they were; the first P3 close carries any true-up. Feature members_cumulative. Kani and Lean proofs of the bounded drift; bookspec examples. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> Claude-Session: https://claude.ai/code/session_01T3gXMVt7XJPi6ens1or9Dj
130 lines
3.6 KiB
TOML
130 lines
3.6 KiB
TOML
id = "members-close.odd-cent-across-closes"
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title = "An odd cent split cumulatively across closes, a close to retained earnings between"
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rule = "Each close to the members MUST give each member their largest-remainder split of everything closed to the same members and shares so far, to the minor unit, less what earlier closes gave them; a close to retained earnings allocates nothing to the members and MUST NOT restart the count."
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status = "CHOICE"
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sources = ["26 U.S.C. §704(a)", "Treas. Reg. §1.704-1(b)(2)(iv)(b)"]
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tags = ["partnership", "close", "rounding", "book", "us"]
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# The regression this example comes from (wanderbooks P3 defect 17, audit
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# F52, anonymized): a net loss of 399.23 at 50/50, closed in January and
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# again in March, with February closed to retained earnings. Restarting the
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# count at March gave A the tied cent twice (A −399.24, B −399.22).
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#
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# By hand, from the rule:
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# January: −399.23 × 0.5 = −199.615 each; rounded toward zero, −199.61
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# each, one cent short; the remainders tie (0.005), so the cent goes to
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# the member listed first: A −199.62, B −199.61.
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# February: 10.00 to retained earnings; the members' count skips it.
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# March: the count's running total is −798.46, −399.23 each exactly;
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# less January's −199.62 / −199.61, March gives A −199.61, B −199.62.
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# Each member ends at −399.23, their exact share.
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[setup]
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currency = "USD"
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fiscal_year_start = "01-01"
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basis = "accrual"
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rounding = "largest-remainder" # odd cents to the largest remainders, ties
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# to the member listed first, cumulatively
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[[setup.accounts]]
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code = "1000"
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name = "Cash"
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type = "asset"
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[[setup.accounts]]
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code = "3000"
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name = "Capital, A"
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type = "equity"
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[[setup.accounts]]
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code = "3001"
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name = "Capital, B"
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type = "equity"
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[[setup.accounts]]
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code = "3999"
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name = "Retained earnings"
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type = "equity"
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[[setup.accounts]]
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code = "6000"
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name = "Fees"
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type = "expense"
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[[setup.members]]
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name = "A"
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capital_account = "3000"
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share = "0.5"
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[[setup.members]]
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name = "B"
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capital_account = "3001"
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share = "0.5"
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[[events]] # event 1
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date = "2026-01-15"
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description = "January's fees"
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lines = [
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{ account = "6000", side = "debit", amount = "399.23" },
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{ account = "1000", side = "credit", amount = "399.23" },
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]
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[[events]] # event 2: the closing entry
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date = "2026-01-31"
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description = "Close January to the members"
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close = { start = "2026-01-01", to = "members" }
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[[events]] # event 3
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date = "2026-02-15"
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description = "February's fees"
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lines = [
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{ account = "6000", side = "debit", amount = "10.00" },
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{ account = "1000", side = "credit", amount = "10.00" },
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]
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[[events]] # event 4
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date = "2026-02-28"
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description = "Close February to retained earnings"
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close = { start = "2026-02-01", to = "retained_earnings" }
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[[events]] # event 5
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date = "2026-03-15"
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description = "March's fees"
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lines = [
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{ account = "6000", side = "debit", amount = "399.23" },
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{ account = "1000", side = "credit", amount = "399.23" },
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]
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[[events]] # event 6
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date = "2026-03-31"
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description = "Close March to the members"
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close = { start = "2026-03-01", to = "members" }
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[[expect]]
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query = "entry"
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entry = 2
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[expect.values]
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"6000.credit" = "399.23"
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"3000.debit" = "199.62"
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"3001.debit" = "199.61"
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[[expect]]
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query = "entry"
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entry = 6
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[expect.values]
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"6000.credit" = "399.23"
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"3000.debit" = "199.61"
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"3001.debit" = "199.62"
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[[expect]]
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query = "balances"
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as_of = "2026-03-31"
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[expect.values]
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"3000" = "-399.23"
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"3001" = "-399.23"
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"3999" = "-10.00"
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"1000" = "-808.46"
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