Contact UsHow do you report matching contributions to a 401(k) by a partnership on behalf of its partners on Form 1065? Do these matching contributions also need to be disclosed on the K-1s?
Question Owner
John - thanks for your reply. What you say is consistent with what I had seen for the contributions that the partners make to their 401(k)s, but I wanted to confirm that this is also how you treat the partnership's matching contribution to each partner's 401(k) - the guidance I had found was less clear on the matching contributions. Thanks again - Jeff
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426 weeks ago
Amanda Knight
@Question Owner: Did you ever find an answer to this? I am also looking for clarification on this.
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357 weeks ago
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Tax Professional Answers
John Stancil
The contributions must be shown on the K-1 as Guaranteed Payments. Line 4 of the K-1. They would also be shown on line 13, code R. As a guaranteed payment, the amount would be included in taxable income. However, the partner can deduct the amount of the contribution on line 28 of the 1040.
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426 weeks ago