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I have partners in a partnership who receive royalty payments ,have an ownership % but do not have profit or loss %. How do I report on the return & K1s the royalies?

Level 2
Can this be reported as guarantted payments to partners?
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2 Comments 2
Level 15

No it is not Guaranteed Payments. Royalties are a separately stated pass through item and retain their character. If you know how much each partner received, specially allocate them.

Level 2

Thank you for the response