Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Do I include guaranteed draw on the at risk worksheet as other income from partnership?
Do I include guaranteed draw on the at risk worksheet as other income from partnership?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Nancy9
Level 3
06-22-2021
04:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
On individual return. 1065K1 for an LLC general manager. At risk limitation worksheet line E6 shows guaranteed draws which flow thru to line 3 of Form 6498 and then allow the loss to net against the guaranteed draw for taxable income. Is this correct? I thought guaranteed draws didn't count towards basis. Is it considered other income from the activity that were not included on lines 1 or 2c?
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
