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phoenixmike230
Level 2
December 7, 2019
Solved

If a partnership that has no agreement & literally pays out to 5 partners over 1 million dollars, , how much ,if any, would be considered guaranteed payments?

  • December 7, 2019
  • 1 reply
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Best answer by sjrcpa

The amount that the partners say is Guaranteed Payments. It could be zero.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

The amount that the partners say is Guaranteed Payments. It could be zero.

The more I know the more I don’t know.
P
phoenixmike230Author
Level 2
December 7, 2019
I am concerned that a Gen Partner with 400K of ord income & no guar payments & than all 400K qualifies for QBI- is a bad look.
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