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Nicholas-Howes
Level 1
April 2, 2025
Question

I have a partnership that has three brothers who each own 1/3 of the total. How do I get Schedule B-1 to show that they each have 100% Maximum percentage?

  • April 2, 2025
  • 1 reply
  • 8 views
They each own indirectly 100% due to the ownership of their brothers who own 2/3.
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1 reply

amacpa
amacpa
Level 4
April 4, 2025

Schedule B-1 is for a partner\s or entity owning 50% or more. 

I'm not an expert in the rules of attribution but I don't beleive it applies. 

but if attribution rules does apply this partnership you'd complete the information in Screen 5 - Other information - Schedule B

    K
    Karen_pdx
    Level 5
    April 4, 2025

    The rules of attribution do apply to partnerships. 

     

    I think the best input for showing the ownership % including attribution is in Screen 32.1 Sch K-1 Miscellaneous using the input line for "Maximum percentage owned" 

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