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Business & farm
That's the problem because the employee contribution should not come from the partnership. You can take a draw down from the partnership capital accounts of both you and your wife for $12500. This will reduce your partnership capital accounts by $12,500 for both as that amount should be paid out of your personal accounts. The amount of $12,500 should be in box 19 (Distributions).
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March 9, 2020
4:50 PM