Situation: A couple of traders, futures only, proprietary money so no CTA/NFA involvement. Setting up as a split where X % becomes Y % for profits attained beyond the initial benchmark. Is his "bonus/salary" a deduction from the general partner's taxes? Is the best way to do this as a 1099 or via an operating agreement defining splits? 100k in revenue. 80/20 split. How would you do it? Thanks.