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- Proconnect not recognizing "General Partner / LLC Manager?" status for partnership return
Proconnect not recognizing "General Partner / LLC Manager?" status for partnership return
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mackenziehashba
Level 1
08-31-2023
07:08 PM
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Hi! I'm filing a partnership return for a client now. There are two partners that would be considered general partners and everyone else is a limited partner.
I selected the "General Partner / LLC Manager?" designation for the partners that are general partners. However, their earnings aren't showing up as self-employment income on their K-1s, nor is the Analysis of Net Income (Loss) per Return correct on Form 1065 (there's an incorrect split between general partners and limited partners - all net earnings are showing up on the limited partner line). How can I fix this?
Thanks!
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PhoebeRoberts
Level 11
09-01-2023
12:55 PM
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Everything showing up on the limited partner line is correct for an LLC taxed as a partnership, per the 1065 instructions.
I assume the type of income the LLC has is generally subject to SE tax? If it's coming from a pass-through entity, you've entered income subject to SE tax even if the K-1 you got didn't show it? You can override or adjust net earnings from self-employment under Schedule K, Other Schedule K Items, if needed.
