S-corp owning part of a partnership.

Tax, SDIRAs & Cost Segregation
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S-corp owning part of a partnership.

Seidy Lasker
Realtor 路 Phoenix, AZ 路 Member since 2020 路 79 posts 路 37 votes

If an S-corp owns part of a partnership, does the partnership issue K1 to the S-corp and then the S-corp reports the K1 as gross income?

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  • Ashish AcharyaBusiness Member
    CPA, CFP庐, PFS 路 FL 路 Member since 2017 路 5k+ posts 路 3k+ votes
    4y
    Originally posted by @Seidy Lasker:

    If an S-corp owns part of a partnership, does the partnership issue K1 to the S-corp and then the S-corp reports the K1 as gross income?

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    Yes! then S-corp books the K-1 and tracks the investment account. There has to be an investment account at the S-corp level in the partnership to book the K-1. 

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