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Guaranteed payment not transferring to state return correctly
I have an LLC (form 1065) with 2 partners, with 1 partner receiving a guaranteed payment. When entering in deductions in TurboTax Business I'm allocating by amount all of the payment to 1 partner. The federal schedule K is correct; however, when the payment is transferred to the state return (PA) it's allocating the guaranteed payment to the state schedule PA RK-1 based on the profit percentage instead of the allocation by amount. I don't see where this can be corrected. How can I get the state to correctly allocate the guaranteed payment?
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‎February 18, 2023
3:43 PM