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Posted by bc on September 7, 2008, 6:19 pm
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On Sat, 6 Sep 2008 18:35:24 EDT, "bm30003700@aol.com"
>Is there a possible characterization of guaranteed payments, other
>than self employment? I'm looking at a 2007 K-1 from a LLC, issued to
>a general partner. Guaranteed payments show on line 4, but there is
>no
>corresponding entry on line 14. Year 2006 K-1 was the same.
It could be in the nature of a return no capital. This is a
function of the Operating Agreement.
--
Bruce Davidson Cantor, CPA, JD
Admitted in Colorado
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