- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you for your thoughts and comments. The question was not if he was subject to it. I agree with all of you that he is and he is ok with that. I just wanted to be able to get the program to calculate it without changing his status. I think that could open up a lawsuit possibly and if they want to determine he is a general partner in the courts, that is ok with me. I just don't want to open that up. Only one of you answered my question and the rest of you took the position that we were trying to get away with something that we were not. If you read my question, I was asking how to get the program to calculate it, not how to get out of paying it.
There was a comment about not asking the program to calculate something that only a few will use. I am surprised that more of you have not run into this situation. I have seen it calculated on some of the K-1's that I get from clients who are limited partners and I do not think this is an isolated incident.