Discussion:SEP Contributions and LLC Partnerships
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Discussion Forum Index --> Tax Questions --> SEP Contributions and LLC Partnerships
| 27 March 2008 | |
| Need verification.
From all that I have read a LLC partnership cannot take a deduction on its 1065 for SEP contributions made on behalf of a partner. Even though a partner does not take a salary, she receives guaranteed payments. As such both the guaranteed payments and the SEP contributions are reported on her K-1. The partner then takes a deduction on her 1040 as an adjustment against income. | |
| 28 March 2008 | |
| I think that has been discussed. Try the yellow search box over there to left. | |
| 28 March 2008 | |
| Thanks CrowJD. I read the discussion. Now I have to figure out the best way to reflect on the books. | |
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