Question
A partner's self-employment earnings (loss) may be affected by her share of ordinary business income (loss) and any guaranteed payments she receives from a partnership.
A partner's self-employment earnings (loss) may be affected by her share of ordinary business income (loss) and any guaranteed payments she receives from a partnership. The impact of these amounts typically depends on the status of the partner, Which of the following statements correctly describes the effect these ltems have on the partner's self-employment earnings (loss)?
a.Limited partner~only guaranteed payments affect self-employment earnings (loss)
b.Limited partner-ordinary business income (loss) and guaranteed payments affect self-employment earnings (loss)
c.General partner-only ordinary business income (loss) affects self-employment earnings (loss)
d.General partner-only guaranteed payments affect self-employment earnings (loss)
e. Limited partner~only ordinary business Income (loss) affects self-employment income (loss)
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