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Discussion:W-2 Data Entry Issue

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Discussion Forum Index --> Tax Questions --> W-2 Data Entry Issue


Snp (talk|edits) said:

December 12, 2006
Managing member of LLC received W-2. This W-2 income also entered on line 10, Form 1065, Guaranteed Payments. Which is the best way to fix this problem??

Will (talk|edits) said:

13 December 2006
If the LLC has not elected to be taxed as a corporation I think you are going to have to amend the PR filings and seek refunds for the tax paid. It is not going to be deductible by the LLC. The member cannot be on PR.

Will

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