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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

How do I specially allocate guaranteed payments to partners?

Answer

Use the following Ptr Alloc buttons on Screen SepK in the associated activity to specially allocate guaranteed payments.

• Guaranteed payments - deductible field - To specially allocate deductible guaranteed payments other than the portion of guaranteed payments for health insurance coverage and for pension and IRA contributions
• Guaranteed payments - nondeductible field - To specially allocate nondeductible guaranteed payments
• Health insurance considered guaranteed payments to partners field - To specially allocate the portion of deductible guaranteed payments for health insurance coverage
• Pensions and IRAs considered guaranteed payments to partners field - To specially allocate the portion of deductible guaranteed payments for pension and IRA contributions

Related topic: Guaranteed payments FAQs (1065)

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