Ochumare
Level 3
04-04-2022
03:39 PM
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First time working on a partnership (Form 1065)
Where do I report the member's draw figures on this form (1065) so that it reflects on the K1. Thanks
Best Answer Click here
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dkh
Level 15
04-04-2022
04:26 PM
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If by draws you mean Guaranteed Payments to Partner - enter on Page 1 of 1065, line 10. If the draws are not same as draws x %ownership - then you also need to go to the K1 Worksheet to enter amount on Line T or V
Ochumare
Level 3
04-04-2022
05:28 PM
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WOW!!!! Thank you sooo very much. I have been over an hour trying to figure this out. You are awesome!!! Great answer. Thank you so much again.
dkh
Level 15
04-04-2022
09:16 PM
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You're welcome.
