We have a very simple business -- 2 member Florida LLC with no employees, no incoming K-1s, no insurance, etc. We have a few 1099 subcontractors which is the bulk of our expenses. We pass-through the net business profit to each of our 1040s and didn't elect S-Corp taxation.
So, this should be simple: 1065 and a couple of K-1s.
However, I'm having trouble getting the K-1's to look like the ones our old CPA did last year.
Last year our K-1s have line G "Limited Partner or other LLC member" checked. They also have box 14 with codes A and C filled with our pass-through self-employment income and gross respectively.
When entering the Partner/Member Information tab, on the Describe This Member page, if I select "As another LLC member", line G matches last years, but it won't populate box 14 A and C.
I have to select "As a managing LLC member", then I get box 14 A and C filled -- BUT line G will have "General Partner or LLC member-manager" checked.
I just can't figure out if TurboTax is wrong or our CPA did this wrong last year.
Help? Please?
Thanks!!
