Where do I enter payments the partnership made to partners for their SIMPLE IRA plans in the Partnership Return in order for this to properly report on Schedule K1 Box 13 Code R?
Best Answer Click here
This discussion has been locked. No new contributions can be made. You may start a new discussion here
Screen 22 > Deductions > Last entry is a grid use Ctrl + E to open > Select R=Pensions & IRAS and complete the grid
Screen 22 > Deductions > Last entry is a grid use Ctrl + E to open > Select R=Pensions & IRAS and complete the grid
Thanks for that reply.
Do you know if there is any way to allocate that amount between partners? I have one partner with a large amount of Guaranteed Payments and the other with none. But the total SEP contribution is split 50/50 between the two K1s and I cant adjust it per the special allocations screen. I assume box 13 code R should reflect the individual partners amount?
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.