Question 19 of 35 . Abraham, Balthazar, and Carlino formed ABC Home Repairs. LLC. They made no elections so the LLC will default to fliling their return as a partnership. They agree that Carlino wili manage the business operations and receive a guaranteed payment of $50,000, Carlino's share of the income this year was $20,000, How will the guaranteed payment impact the partnership and the partners when reporting for tax filing purposes? The partnership will deduct the $50,000, but only Abraham and Bathazar's share of income will be reduced for the amoum of the payment to Carlino. The partnership will deduct the $50,000 before calcutating the amount of the parthership's ordinary income, Abraham, Bathazar, and Carlino's share of income will each be apportioned from that reduced amount of income. The partnership will deduct the $50,000 and Carlino's share of ordinary income will be reduced by the amount of the guaranteed payment. The partnership will not be able to deduct the guaranteed payment if the partnership does not have ordinary income greater than $50,000, but Carlino will still recelve the payment. Mark for follow up