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Scorp is a member of a partnership.

loboacounting
Level 1

when a Scorp is a partner in a  LLP how do you enter the Partnership k-1 on the Scorp return? What do you do in this situation? Lastly, is it better for the LLP to stay a partnership or to become a Scorp?

 

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2 Comments 2
George4Tacks
Level 15

(1) Ordinary Income > Passthrough K-1's

(2) Do the Input

(3) Earn your fee and answer this one by doing other than random post on the internet. 

 


Here's wishing you many Happy Returns
abctax55
Level 15

And don't forget to adjust the amount of the investment in the partnership on the balance sheet for all the income/expense/non-deductible activity/distributions/etc.

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