Thanks.
So I actually prepared the partnership 1065 as well and I was a bit thrown off by the K1 asking for my personal info. I have never filed one myself, as we just started the business last year. I was a commercial loan underwriter and eventually a commercial lender at a bank for several years, so I have seen many K1's (admittedly its been about 5 years) and I have seen plenty of partnership interests owned by another business entity and I don't remember the owner's personal info being on the K1 in those instances. Perhaps this is something fairly new? Or perhaps its just been too long since I've seen one. 🙂 Anyway this is why I was confused about my pass through LLC that owns the partnership.
So on my personal return do I even need to include the LLC which owns the 50%? If so how? They have seperate EIN's.
In my initial question I asked about calculating taxes on the guaranteed payments, but I realized that the software did not calculate due to an omission on my part (I forget to change the drop down "Activity type" to Ordinary business), so that part is solved.
Thanks again
