Tax Reporting
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      How to Edit the Distribution and Taxable Percentage of a Portfolio

      Do you need to change the % amount for owners that are on a portfolio? This article will show you how to change the % amount for one or multiple owners on a portfolio.


      • First, go to the portfolio you want to edit.  Click on the Edit button to change the % amount for the Taxable and Distribution amounts.  

       

      • Next, you can edit the % amounts here.  In this example, you will see two owners.  Remember, the total % amounts need to equal 100% between the two owners.  If there is only one owner, the total would equal 100%. Click SAVE when you are finished editing the percentage amounts.  
        • Taxable Percentage- this will be the full amount that is tied to this owner for taxable income collected for a certain year. For example, if $10,000 was collected of taxable income and the taxable percentage was set to 50% then the owner would receive a 1099 with an amount of $5,000 for taxable income. 
        • Distribution Percentage-  this will be the amount that each owner receives when completing owner disbursements through the pay owners screen. For example, if this were set to 50% and the owner payment screen had $5,000 as a distributable amount, then a single owner would receive $2,500.