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posted Feb 25, 2024 6:06:52 AM

partner income in K-1 does not match NJK-1

In a multi-partner LLC in NJ, I am using a special allocation for the distribution of income. It is a 2 person LLC, one partner with 50/50 ownership, however 1 partner generated 70% of income and the other partner 30% of income. Federal allows for the special allocation, I cannot figure out how to distribute the income following the 70/30 split in the NJ partnership form. I would appreciate any assistance and direction that can be provided. Thanks

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