Partnership with Corporate Owners

[Snaggletooth]

One of my contacts has created an LLC, choosing to file as a partnership.

Both partners are corporations, not individuals, hence I have to fix Drake such that somehow SE tax will not be calculated. I can do so by designating the partners as "limited partners" only, but I did think that there has to be at least one such "operating" partner.

Is this a Drake problem? Or can a different kind of entity be chosen?

Suggestions?

[kathyc2]

In Pro you can choose what type of entity the partner is, including Corporation. I would assume Drake would also include that. Is there a something like a partner information worksheet?

[kathyc2]

This is from goggling Drake:

"Use the K1 screen to enter data for Schedule K-1, Partner’s Share of Income, Credits,
Deductions, etc.
In the Type of Partner section, select the box on line G to describe the partner as
either a General or LLC member-manager or a Limited or other LLC member
(default is General). On line H, select either Domestic partner or Foreign partner
(default is Domestic).
From the line I1 drop list (Figure 15), choose the type of partner (not the type of partnership).
If this box is left blank, the program uses the default selection of Individual.
If the partner is a retirement plan (IRS, SEP, Keogh, etc.) mark the I2 check box."

https://www.drakesoftware.com/Shared...rtnerships.pdf Page 33 shows a screen shot of where to enter.