Customer: Does a K-1 need to be the same for each partner in a PC? In other words, if bonuses are based upon individual
partners productivity %, does the K-1 need to reflect the same amount and the difference taken as salary?
JA: Thanks. Can you give me any more details about your issue?
Customer: Each partners overall compensation
is based upon the individuals collections
. So if there is $100,000 in the bank on Dec 31st, and one partners % is 50 and the other two are 25% each, the distribution
of money in the bank is 50,000, 25,000, and 25,000. For the one getting the 50,000, can it be all taken as distribution or can only 25,000 be taken as distribution and the remaining 25,000 has to be salary?
JA: OK got it. Last thing — JustAnswer charges a fee (generally around $32) to post your type of question to Tax
Experts (you only pay if satisfied). There are a couple customers ahead of you. Are you willing to wait a bit?
Customer: how long?
JA: OK. Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.