I have received a K-1 from a LLC and I have been actively participating in the LLC's business activities.
On the K-1, I've received both a guaranteed payment and my share of the LLC profit.
How do I claim the deductions (home office, car/mileage, etc) on my business expenses on my 1040?
Should I use Schedule C for the guaranteed payment and offset that with the expenses?
Thank you in advance!
Eric
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