Nancy9
Level 3

at risk is blocking it

Here is the info from the 1065 k1

line 1 ordinary loss of 8000

line 4a guaranteed payments for services  70,000

line 13m med insurance 12000 (which is included in 4a)

line 14a net earnings from SE 62,000

In all I'm reading the fact that 14a was 62k I believe I should be able to deduct the 12k on schedule 1 but in order to do that I have to override the at risk worksheet to allow the 12k health insurance. 

On the 6198 I entered the 12000 in the worksheet on line 6 guaranteed payments.  That flowed to line 3 on the 6198 but Proseries then wanted to divvy up the allowable expenses.  (between ordinary, loss, non deductible, health ins) I over-road it to only allow the Health Insurance.

Do you believe I am correct in reporting this way?

 

 

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