A guaranteed payment from a partnership always represents current ordinary income to the recipient partner.

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According to IRS regulations, a guaranteed payment from a partnership is always considered as current ordinary income to the partner receiving it. This is because a guaranteed payment is a payment that is made to a partner regardless of the partnership's income or profit, and is treated as if it were a salary or wage for services rendered to the partnership. As such, it is always taxable as ordinary income in the year it is received by the partner.

A Guaranteed Payment from a Partnership Always Represents Current Ordinary