Thanks for the explanation.
I understand that the guaranteed payments and the retirement contribution flow to (in this case) my personal 1040, where I will enter the amounts from the K-1 of the LLC.
What threw me off was the fact that Balance Sheet section of TT Business appears to subtract the Guaranteed Payments AND the retirement contribution from the revenues to calculate the net earnings.
I understand now that this would need to be balanced on the M-1 schedule of the 1065.
