Yes, I posted this on two different boards. I can't find where some nice, smart person helped me last year. I have only one of these and struggle with it every year. Probably doesn't help that this is only my second year on current software. I searched on SIMPLE and other words to try to find past discussions with no luck.
LLC taxed as a partnership, husband and wife 50/50 partners. Husband is not active and took some distributions. Wife is very active, took guaranteed payments, family health insurance premiums, and SIMPLE max plus matching.
I think I add health insurance to guaranteed payments in most places in the return EXCEPT for Schedule M-1 where line 3 is GP (other than health insurance). Right?
And, on her K-1, I should have line 13 L health insurance and 13 Q SIMPLE. Right?
If you happen to know how all this works in ProSystem fx, I will love you forever. Last year everything came out right with only one override and balanced. This year, I discovered why I needed the 2007 override and did that item "correctly" on 2008 but am having trouble with the M-1 flowing as mentioned above. And, I'm out of balance by about the amount of the health insurance!
Wouldn't it be nice if all my clients used the same type of retirement plan so I could master its reporting?!
It's late and our water stopped several hours ago and I need a shower before I can face this client. Thanks for any direction re this partnership return.