Nancy9
Level 3

On individual return.  1065K1 for an LLC general manager.  At risk limitation worksheet line E6 shows guaranteed draws which flow thru to line 3 of Form 6498 and then allow the loss to net against the guaranteed draw for taxable income.  Is this correct?  I thought guaranteed draws didn't count towards basis.  Is it considered other income from the activity that were not included on lines 1 or 2c?

0 Cheers