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Business & farm
I also agree with what has been stated based on the very brief facts.
The facts don't specify whether the LLC's which are partners, are single member LLC's or multi-member LLC's.
Working members / partners are paid a guaranteed payment and this is reported separately on the respective K-1. The difference is that no withholding occurs. All taxes are paid at the individual level.
Additional facts would be good if these responses do not address your question.
*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.
‎December 31, 2019
1:48 PM