an s-corp is a partner of a partnership

Forum|Forum|6 years ago
April 27, 2020
5 replies
34 views

How do I suppress the self employment tax on guaranteed payments for the paertner

ProSeries Professional

This topic has been closed for replies.

dd4vols

Intuit Community Champion

on the Schedule K-1 Worksheet.. for the S-Corp info...did you use the drop down under Partner Entity TYpe and choose S? that makes it go away...

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J

jujubeeAuthor

Level 2

Where is the partner entity type?

dd4vols

Intuit Community Champion

Schedule K-1 Worksheet.... first line. you normally put in SSN and entity type I (for Indiviual) .. but in your case for the S Corp partner....the FEIN... and immediately to the right of that... use the drop down and choose "S"

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G

gell3334

Level 2

on the right hand side of k-1 worksheet check type of partner as limited- that will leave income as ordinary and not flow to self employment income on worksheet

dd4vols

Intuit Community Champion

'on the right hand side of k-1 worksheet check type of partner as limited- that will leave income as ordinary and not flow to self employment income on worksheet"

if you put the partner type as 'S'... which it is .. a Sub S Corp... you don't indicate it is a limited partner....

not that hard....

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