Alex Daisy Posted March 1, 2011 Posted March 1, 2011 A 401k plan has 4 regular employees whose compensation is reported on a W-2, and one partner, who gets a K-1. My question is what compensation do we use for the Partner when I am trying to do a New Comp PS calculation? Does the partners K-1 income have to be adjusted for the self employment calculation?
Jim Chad Posted March 1, 2011 Posted March 1, 2011 You have it correct. You have to do the circular calculation for self employment, starting with the information on the K-1.
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