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Partner SIMPLE IRA contribution on Partnership Return

sadukes1204
Level 1

Where do I enter payments the partnership made to partners for their SIMPLE IRA plans in the Partnership Return in order for this to properly report on Schedule K1 Box 13 Code R?

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George4Tacks
Level 15

Screen 22 > Deductions > Last entry is a grid use Ctrl + E to open > Select R=Pensions & IRAS and complete the grid


Here's wishing you many Happy Returns

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George4Tacks
Level 15

Screen 22 > Deductions > Last entry is a grid use Ctrl + E to open > Select R=Pensions & IRAS and complete the grid


Here's wishing you many Happy Returns
Wantomas
Level 1

Thanks for that reply. 

Do you know if there is any way to allocate that amount between partners?  I have one partner with a large amount of Guaranteed Payments and the other with none.  But the total SEP contribution is split 50/50 between the two K1s and I cant adjust it per the special allocations screen.  I assume box 13 code R should reflect the individual partners amount?

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