Corduroy Frog Posted February 12 Report Share Posted February 12 For an LLC filing as a partnership Guaranteed payments to partner - $40,000 It is treated as an expense to the partnership, but is income to the partner. Does the $40,000 reduce the QBI income of the partnership? Doesn't seem like it should if W-2 wages paid by the partnership doesn't reduce the QBI. Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 12 Report Share Posted February 12 According to the Tax Book, Guaranteed Payments are not included in QBI. Quote Link to comment Share on other sites More sharing options...
Corduroy Frog Posted February 12 Author Report Share Posted February 12 Thank you. I did query the Tax Book, but could not find where Guaranteed Payments were addressed with respect to QBI. Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 12 Report Share Posted February 12 1 hour ago, Corduroy Frog said: Thank you. I did query the Tax Book, but could not find where Guaranteed Payments were addressed with respect to QBI. II have tried The Tax Book's Web Library and wasn't impressed with their search Function, so I use their Print Edition. Quote Link to comment Share on other sites More sharing options...
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