BCinSC Posted April 7, 2012 Report Share Posted April 7, 2012 Partnership return has 4 partners, (both parents and two children) who own 100% of entity. Parents each own 40% and children each own 10%. I am getting an error message on the ownership list because each owns less than 50%; however, if I am reading the instructions correctly, constructive ownership comes into play and each partner should be listed. Just wondering how anyone is presenting the ownership percentage on this form --- actual ownership % or constructive ownership %. Thanks for any advice. Quote Link to comment Share on other sites More sharing options...
TaxCPANY Posted April 12, 2012 Report Share Posted April 12, 2012 Constructive ownership rules, on this, BCinSC -- i.e., everyone owns "100%". VTY, TaxCPANY Quote Link to comment Share on other sites More sharing options...
BCinSC Posted April 12, 2012 Author Report Share Posted April 12, 2012 Thanks! That's what I thought. Hope the rest of tax season goes well for everyone! Quote Link to comment Share on other sites More sharing options...
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