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Partnerships - Form 1065

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  3. Partnerships - Form 1065
  4. How is the guaranteed salary amount reported?

How is the guaranteed salary amount reported?

Guaranteed salary that is fixed without regard to partnership income is taxable as ordinary wages and not as partnership earnings. As a General partner the guaranteed salary and net partnership income is subject to self-employment tax. Limited partners do not pay self-employment taxes unless guaranteed payments are received.

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