Thanks for reply. Maybe this will clarify.
Also, I'm in the middle of auditing (and potentially) amending my returns, thus the question.
Example scenario:
2018
Checks received in 2018: $80,000
Guaranteed Payments reported on 2018 K-1: $100,000
Then in 2019
Received remainder 2018 payments: $20,000
Where I am using cash based accounting yet didn't receive actual cash in the year it reported on my K1, how do I reconcile the difference in 2018 and 2019?
Keeping in mind, this all passes through to my personal returns.
