I have partners in a partnership who receive royalty payments ,have an ownership % but do not have profit or loss %. How do I report on the return & K1s the royalies?
I have partners in a partnership who receive royalty payments ,have an ownership % but do not have profit or loss %. How do I report on the return & K1s the royalies?
No it is not Guaranteed Payments. Royalties are a separately stated pass through item and retain their character. If you know how much each partner received, specially allocate them.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.
