Guaranteed payments received from a partnership are included in the income of the partner receiving the payments on a cash basis, without regard to the partnership's tax year.
Guaranteed payments received from a partnership are included in the income of the partner receiving the payments on a cash basis, without regard to the partnership's tax year.Guaranteed payments received from a partnership are included in the income of the partner receiving the payments on a cash basis, without regard to the partnership's tax year.

Question

Quizplus · Accepted Answer

Guaranteed payments are included in the partner's income in the partnership's tax year in which the partnership deducts them, not necessarily on a cash basis.

Guaranteed Payments Received from a Partnership Are Included in the Income