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Level 1
February 17, 2021
Question

Form 1065 page 5

  • February 17, 2021
  • 1 reply
  • 14 views

Page 5 of Sch K (Analysis of Net Income) Line 1 shows total net income which includes guaranteed payments to partners and net income from operations.  Unlike previous years returns the amount shown on line 2a (Individual /active) only shows net income from operations and nothing for guaranteed payments to partners.

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1 reply

PATAX
Level 12
February 17, 2021

Thank you for your post.