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huntgal
Level 3
June 26, 2020
Solved

form 1120 C corp

  • June 26, 2020
  • 3 replies
  • 32 views

Where do I enter information from a 1065 K-1 where the partner is a C corp?

There is guaranteed payments and self employment income.

Thank you

This topic has been closed for replies.
Best answer by sjrcpa

Ignore the self employment income since corporations do not have that, even though they are people. Enter Guaranteed Payments as  if they were K-1 Line 1 income.

3 replies

sjrcpa
sjrcpaAnswer
Level 15
June 26, 2020

Ignore the self employment income since corporations do not have that, even though they are people. Enter Guaranteed Payments as  if they were K-1 Line 1 income.

The more I know the more I don’t know.
Accountant-Man
Level 13
June 27, 2020

How did the corporation work to get Guaranteed Payments?

** I am "Elevating with Intention!"
Accountant-Man
Level 13
June 28, 2020

I still don't know what work the C Corp. did.

** I am "Elevating with Intention!"