cancel
Showing results for 
Search instead for 
Did you mean: 
KS28
Level 1

How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?

 
3 Comments 3
john-pero
Community Champion

How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?

As long as you have an account labeled Guaranteed Payment Expense and map it (or your CPA manually adds it) to the K-1 that is all you need do. It is not 1099 income to the partners so tracking it as vendor payments for 1099 form does not accomplish anything other than giving you a total by partner

KS28
Level 1

How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?

Thank you!!!

KS28
Level 1

How do I reimburse partners health insurance premiums so that they appear as Guaranteed Payment Expense to the LLC Partnership & Guaranteed Income to the partners?

Thank you!!

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us