tcunagin
Feb 27 2004, 01:58 PM
In a partnership where the % ownership is different for Profit and Capital which % do you use for determining your key employee status?
Belgarath
Feb 27 2004, 03:50 PM
In 1.416-1, T-16, T-17, and T-19, it is capital or (my emphasis) profits. So for practical purposes, you would take the greater of the two percentages.