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Business & farm
This is exactly as it should be.
Guaranteed payments are "essentially" wages and not distributions.
You still need to enter the K-1 information in the business section of TT just like any other K-1.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎April 9, 2025
4:15 PM