If a LLC had other K-1 with Guaranteed payment, then the figures on Line 14 of K-1 of General partner was doubled.
I called Lacerte tech support and did not get any answers.
Do you mean the amount is twice what you expect, or that the amount appears twice? There is both a capital versus earning line AND a total line...
Thank you for your reply.
the self-employment earning on K-1 showed double of Line 4c guaranteed payment plus Line 1, ordinary business income on Line 14.
Called Lacerte with no answer.
Also, when 2020 LLC module transfer to 2021, general partner was not marked for all clients.
My client is a LLC A with two LLC B1 & B2 under it. The guaranteed payments are from those two LLC B-1 & B-2 and then pass thru to this LLC A.
K-1 Line 14 of LLC A was not correct. I have sent data file to Lacerte calculating challenge.
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