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Business & farm
As noted by @Anonymous_ you need to make sure that the percentages are correct in the partner information section.
In addition, I certainly hope that you have retained tax advice in your allocation methodology and you have an operating agreement that supports this allocation.
Unless you have what the IRS regulations call "substantial economic effect" to support your allocation, if audited, the IRS will allocate based on a partner's interest in the partnership (known as PIP).
This is a very complicated area and understood by few, so as noted above, you need to have good tax advice on your allocation methodology.
*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.
‎September 10, 2019
11:55 AM