loboacounting
Level 1
05-20-2020
03:49 PM
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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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George4Tacks
Level 15
05-20-2020
04:00 PM
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(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.
Answers are easy. Questions are hard!
abctax55
Level 15
05-20-2020
05:12 PM
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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.
HumanKind... Be Both
