1065-US: Specially allocating guaranteed payments to partners (FAQ)

Alerts and notices

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)