2 person Partnership return K1 line 14 shows 50% of total income received by partnership not guaranteed payments made to each partner. Is this correct?

[Rick19744 · Accepted solution]

A response to this question can easily become complicated and beyond the scope of this forum.  The response is based on assuming that line 14 has a code A.

But, in general, this is driven in how you responded to the question in Part II question G on the K-1.

If the general partner box is marked, then line 14 will be populated.  If the limited partner box is marked, then line 14 will not be populated for any income other than guaranteed payments.