@cpg  You never said it was a 401(k) Plan. Since Phoebe's answer was the Solution, it must be.

If the K-1 had 67,500 on the one line with no explanation/breakdown of deferral, catch up and profit sharing I'd call that sloppy K-1 presentation. I always break it down.

I got that you said it was a partnership. Someone else made that comment.

P.S. This wasn't hostile. The answers you get here, from other users who volunteer to help people, are only going to good if you provide accurate, complete information.