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loboacounting
Level 3
May 20, 2020
Question

Scorp is a member of a partnership.

  • May 20, 2020
  • 2 replies
  • 16 views

when a Scorp is a partner in a  LLP how do you enter the Partnership k-1 on the Scorp return? What do you do in this situation? Lastly, is it better for the LLP to stay a partnership or to become a Scorp?

 

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2 replies

George4Tacks
George4Tacks
Level 15
May 20, 2020

(1) Ordinary Income > Passthrough K-1's

(2) Do the Input

(3) Earn your fee and answer this one by doing other than random post on the internet. 

 

Answers are easy. Questions are hard!
    abctax55
    abctax55
    Level 15
    May 20, 2020

    And don't forget to adjust the amount of the investment in the partnership on the balance sheet for all the income/expense/non-deductible activity/distributions/etc.

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