TurboTax Business adding Guaranteed Payments to Income?

[Anonymous]

Am I daft or is this really screwy...

Multi-member LLC. All expenses entered and recorded correctly. Until I get to guaranteed payments to members for work done. When I enter them into the Deductions section, it's adding them to llc income. I know that it should be adding them to individual member K1s, but it appears to be increasing the net profit of the LLC. 

I know this because I deleted the Guaranteed Payments entry and everything is balanced again.

I called support yesterday and they couldn't explain it.

Am I missing something? 

[tagteam]

Have you checked your Guaranteed Payments Smart Worksheet on Form 1065 (p1-3) in Forms Mode?

[Anonymous]

Yes - it's showing zero. Should I enter it manually?

Edit - no...all that did was double it.

[tagteam · Accepted solution]

I cannot seem to reproduce this error. You might want to contact phone support and/or carefully review each and every entry in your return.

Manual entry would most likely work but should be a last resort.