My soon to be X partner’s K1 shows a difference of ~30K between total ordinary income and total net earnings from Self employment (this includes imputed income reported as guaranteed payments). He says that spousal support needs to be calculated from the Total ordinary income. Is he correct?
His K1 states under Total Net earnings from self-employment - This is all ordinary income to you as a partner of *** and should be reported as such on your federal and state income tax returns.
Thank you so much. Truly appreciate.