NateTheGrEAt
Employee Tax Expert

Self employed

Hi @Ajschmit1 - thanks for writing in today!

 

Partners can receive unequal amounts of guaranteed payments, and it is common for one partner to receive more than the others if that partner is doing a larger share of the work. You can simply start giving her more payments and not paying you one. As you noted, you'll need to ensure that each partner's correct total of guaranteed payments is reflected on the Form 1065, Schedule K-1 that is produced when you file your business taxes for this year. You may also want to speak to your business attorney to determine if anything needs to be changed in the partnership agreement to reflect the new guaranteed payments. 

 

I hope this helps answer your question!

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