Thank You Diane. That's what I thought but Turbo Tax if auto filling Line 1 - ordinary income to include the reserve as we enter in the percentage each member g...
Thank you Rick - this is the first time in 10 years we left cash in the account so it caught us by surprise. I assume we need to start using the balance sheets ...
How do we prevent our reserve from being taxed twice? We left $10k in the bank year end and our K1's include $5k for each member as ordinary income since the 10...
