I am completing K1 forms for 2 partners (50%/50%) as part of an LLC form 1065. If a dollar amount is odd, can i give one partner $1 more than the other partner ?

[tuxedorose]

OR do the 2 K1's have be exactly 50/50 which means the amounts have to show 50cent rounding

[Anonymous_ · Accepted solution]

You should not encounter any issues with one partner being allocated one dollar more than the other.

[Critter-3]

One of the partners should be designated as the "rounding" partner ... look in the partner info section. 

[Anonymous_]

---

@Critter-3 wrote:

One of the partners should be designated as the "rounding" partner ... look in the partner info section. 

---

I believe you have to select the option in Forms Mode on the Information Worksheet (see screenshot).