Members Draw Figures - Form 1065 (Partnership)

[Ochumare]

First time working on a partnership (Form 1065)  

Where do I report the member's draw figures on this form (1065) so that it reflects on the K1.   Thanks

[dkh · Accepted solution]

If by draws you mean Guaranteed Payments to Partner - enter on Page 1 of 1065, line 10.   If the draws are not same as draws x %ownership - then you also need to go to the K1 Worksheet to enter amount on Line T or V

[Ochumare]

WOW!!!!    Thank you sooo very much.   I have been over an hour trying to figure this out.   You are awesome!!!   Great answer.   Thank you so much again.

[dkh]

You're welcome.