Hello, so far I have not seen a way to subcategorize income for allocation purposes for an LLC partnership on Schedule K-1
The partnership agreement simply states that all profits are split in half (two-member LLC). But I know each of the partners agreed that each will keep the tip-related portion of each sale, although that is not specifically mentioned in the agreement, probably because the percentage of tips earned by each partner is likely to vary from year to year. I do see a "Special Allocation Percentage" area...each identified by a number (e.g., #1) but no description. So not sure how to report the tip income per partner.
Any advice is appreciated!
