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- I have a partnership that has three brothers who each own 1/3 of the total. How do I get Schedule B-1 to show that they each have 100% Maximum percentage?
I have a partnership that has three brothers who each own 1/3 of the total. How do I get Schedule B-1 to show that they each have 100% Maximum percentage?
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Nicholas-Howes
Level 1
a month ago
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They each own indirectly 100% due to the ownership of their brothers who own 2/3.
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2 Comments 2
amacpa
Level 3
4 weeks ago
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Schedule B-1 is for a partner\s or entity owning 50% or more.
I'm not an expert in the rules of attribution but I don't beleive it applies.
but if attribution rules does apply this partnership you'd complete the information in Screen 5 - Other information - Schedule B
Karen_pdx
Level 4
4 weeks ago
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The rules of attribution do apply to partnerships.
I think the best input for showing the ownership % including attribution is in Screen 32.1 Sch K-1 Miscellaneous using the input line for "Maximum percentage owned"
