Which of the following is false regarding a guaranteed payment?
A) It is recognized as income by the recipient partner in the taxable year received.
B) It is either a deductible expense or a capital expenditure to the partnership.
C) It is ordinary income to the partner receiving the payment.
D) It is determined without regard to partnership income.
E) It is added to a partner's distributive share of ordinary income in calculating self-employment income.
Correct Answer:
Verified
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