Yes, you can enter guarantee payments for one partner. To enter guarantee payments in TurboTax Business, you can follow these steps:
- Type "guaranteed payments" in the FIND field at the right-hand top of the screen. Select "Jump To guaranteed payments."
Or you can do the following:
- Under Federal Taxes, Click the Deductions tab.
- Under the Compensation and Benefits heading, Click Start next to Guaranteed Payments
- Enter the amount of Guaranteed Payment under From Trade or Business Activity
- Select Allocate by Amount
See Tagteam's screenshot as an additional reference
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