j-kent-poff
Level 1
09-07-2020
05:22 PM
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e.g., AB partnership has income of $900. A has a guarantee of $200 and 40% of balance. B has a guarantee of $100 and 60% of the balance.
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George4Tacks
Level 15
09-07-2020
07:15 PM
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Yes. Enter partner percentages for income/loss/capital - I assume 60/40 for all
Enter guarantee payments expense (e.g. $300 from your example). https://proconnect.intuit.com/community/form-1065/help/entering-and-allocating-partners-guaranteed-p...
Enter special allocations for the guarantee payments. https://proconnect.intuit.com/community/partnership/help/how-do-i-use-special-allocations-in-proconn...
Answers are easy. Questions are hard!
j-kent-poff
Level 1
09-08-2020
03:03 PM
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Thank you for your information. It works well. I am still playing with the distributions and trying to learn more. Again, thanks for your help.
J. Kent Poff
[phone# removed]
sjrcpa
Level 15
09-08-2020
05:59 PM
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You should not post your phone number here. This is a public forum open to all-tax pros and spammers (and worse).
The more I know the more I don’t know.
