2 incomes, k-1 and w2...what to do?

[Guest carsonv]

I have a plan that is an LLC. Both of the partners k-1's show a loss in box 1 (Ordinary business income). Both of the partners also received w-2 income for the 2004 plan year. The company filed as a partnership. Which compensation should be used for testing??? I have not run across this situation before so any advice will help.

Carson

carson@dailyval.com

www.retirementplansolutions.com

[Leopurrd]

You can find some answers using the search function -

Here is one link that looked promising:

http://benefitslink.com/boards/index.php?s...t=0entry97935

Vicki

[Guest carsonv]

Thanks for the help, it is now as clear as mudd....

Carson

[Archimage]

See if this helps

http://benefitslink.com/boards/index.php?showtopic=26411&hl=