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Form 1065 page 5

emanonmac
Level 1

Page 5 of Sch K (Analysis of Net Income) Line 1 shows total net income which includes guaranteed payments to partners and net income from operations.  Unlike previous years returns the amount shown on line 2a (Individual /active) only shows net income from operations and nothing for guaranteed payments to partners.

1 Reply 1
PATAX
Level 11

Thank you for your post.

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