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If a LLC had other K-1 with Guaranteed payment, then the figures on Line 14 of K-1 of General partner was doubled.
I called Lacerte tech support and did not get any answers.
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Do you mean the amount is twice what you expect, or that the amount appears twice? There is both a capital versus earning line AND a total line...
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Thank you for your reply.
the self-employment earning on K-1 showed double of Line 4c guaranteed payment plus Line 1, ordinary business income on Line 14.
Called Lacerte with no answer.
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Also, when 2020 LLC module transfer to 2021, general partner was not marked for all clients.
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My client is a LLC A with two LLC B1 & B2 under it. The guaranteed payments are from those two LLC B-1 & B-2 and then pass thru to this LLC A.
K-1 Line 14 of LLC A was not correct. I have sent data file to Lacerte calculating challenge.