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Entering guaranteed payments for Form 8825, Schedule F, or Other Rental in ProConnect Tax

by Intuit• Updated 8 months ago

You can enter guaranteed payments on Form 8825, Schedule F, or as Other Rental on Form 1065 in a Partnership return. Choose the applicable instructions below.

Follow these steps to report guaranteed payments on Form 8825:

Go to Input Return ⮕ Schedule K ⮕ Rental Real Estate.
Select the Income Statement tab.
Locate the Expenses section.
Scroll down to the Other Expenses field.
Enter the Description and Amount.
Go to Other Schedule K Items.
Enter the amount in Guaranteed payments [A].

Follow these steps to report guaranteed payments on Schedule F:

Go to Input Return ⮕ Ordinary Income ⮕ Farm Income and Expenses.
Scroll down to the Farm Expenses section.
Locate the Other expenses field.
Enter the Description and Amount.
Go to Other Schedule K Items.
Enter the amount in Guaranteed payments [A].

Follow these steps to enter guaranteed payments on Form 1065, Schedule K, line 3b:

Go to Input Return ⮕ Schedule K ⮕ Other Rentals.
Select the Income Statement tab.
Locate the Expenses section.
Scroll down to the Other Expenses field.
Enter the Description and Amount.
Go to Other Schedule K Items.
Enter the amount in Guaranteed payments [A].

ProConnect Tax

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