1065 (Partnership return) Guaranteed Payments

[Debst99]

Where do I enter the guaranteed payments on a partnership return and have it transfer to the K-1's?

Thank you.

[dascpa]

Start with the K-1 Worksheet for each partner. Look at Special Allocations T, U and V.

Then in the Schedule K enter Code T, U, V on Line 4a-4b.

Finally, you may have to play with the Schedule M-1 depending upon how you do your accounting to make it work.

[Debst99]

I figured it out.  It was not what you were saying.

[dascpa]

Please elaborate "It was not what you were saying".