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- Client has K-1 in publically traded partnership. They are passive investors on their K-1 Line 4b it shows $1000 as "guaranteed payments for capital": is this taxable?
Client has K-1 in publically traded partnership. They are passive investors on their K-1 Line 4b it shows $1000 as "guaranteed payments for capital": is this taxable?
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dvinegrad
Level 3
03-30-2024
11:59 AM
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PhoebeRoberts
Level 11
03-30-2024
12:47 PM
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Yes; it's essentially interest income. Under Line 20, right above the QBI grid, there's a line to enter the same amount to indicate that there's no SE tax.
