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Partnership Tax Return Allocation Retirement
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JohnCPACFP
Level 3
02-01-2024
12:36 PM
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Lacerte allocates Sch K, Line 13R (retirement benefits) based on partner profit percentage. For most retirement plans, SEPS in particular, the benefits are based on Partner earned income = Guaranteed Payments. In the Special Allocation screen (#29), there is no way to allocate Box 13 Code R to each partner. Is there some kind of work around for this?
