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dvinegrad
Level 3
March 30, 2024
Question

Client has K-1 in publically traded partnership. They are passive investors on their K-1 Line 4b it shows $1000 as "guaranteed payments for capital": is this taxable?

  • March 30, 2024
  • 1 reply
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1 reply

PhoebeRoberts
PhoebeRobertsIntuit Community Champion
Intuit Community Champion
March 30, 2024

Yes; it's essentially interest income. Under Line 20, right above the QBI grid, there's a line to enter the same amount to indicate that there's no SE tax.

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