Hello,
I am working on a cash basis partnership return (2 partners 50/50 that materially participated) and have a question. The partnership has a net loss of $4k prior to a section 179 deduction of $9k. I know the section 179 deduction is disallowed for the partnership and carried forward to future years due to business income limitation,...
2 results in 0.0013 seconds.
-
Partnership with loss and section 179 deduction
-
Proseries Partnership return
I just completed a 1065 for an LLC with two partners. I see that the guaranteed payments to partners will correctly be subject to Self-Employment tax. However, the Ordinary Business Income is only on line 1. The CPA last year also put each partner's amount as subject to Self-employment. I went through the forms etc., and would need to override...