std3517
Level 1
06-23-2021
04:59 PM
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Partnership ownership is:
LLC - General Partner (1% ownership in all respects)
__________________and_____________________
Individual Natural Person - Limited Partner (99% ownership in all respects).
Guaranteed payments for Services = $75,000
$9504 Health Insurance Premiums paid by the partnership for the Natural Person Limited Partner.
How can the total $84,504 of these 2 amounts attributable ONLY to the Natural Person Partner be entered in ProSeries so that it shows up as Guaranteed payment ONLY on his K1?
Thanks
S Desai
[phone number removed]
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