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sadukes1204
Level 2
February 22, 2021
Solved

Partner SIMPLE IRA contribution on Partnership Return

  • February 22, 2021
  • 1 reply
  • 12 views

Where do I enter payments the partnership made to partners for their SIMPLE IRA plans in the Partnership Return in order for this to properly report on Schedule K1 Box 13 Code R?

This topic has been closed for replies.
Best answer by George4Tacks

Screen 22 > Deductions > Last entry is a grid use Ctrl + E to open > Select R=Pensions & IRAS and complete the grid

1 reply

George4Tacks
George4TacksAnswer
Level 15
February 22, 2021

Screen 22 > Deductions > Last entry is a grid use Ctrl + E to open > Select R=Pensions & IRAS and complete the grid

Answers are easy. Questions are hard!
    W
    Wantomas
    Level 2
    March 11, 2022

    Thanks for that reply. 

    Do you know if there is any way to allocate that amount between partners?  I have one partner with a large amount of Guaranteed Payments and the other with none.  But the total SEP contribution is split 50/50 between the two K1s and I cant adjust it per the special allocations screen.  I assume box 13 code R should reflect the individual partners amount?

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