raym2612
Level 2

One partner performs the day to day work for the farm and is receiving guaranteed payments for the service. The service should be allocated to COGS. If I have it recorded in COGS and as guaranteed payment the it is double counted. Any way to have the payment be part of COGS and link that to the K-1?

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PhoebeRoberts
Level 11
Level 11

Enter it in the field called Guaranteed Payments Capitalized, not the Trade or Business section of Guaranteed Payments.

Screenshot 2021-06-14 112043.jpg

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raym2612
Level 2

Thank you!

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