SPC partnership is owned 50/50 by Steve and Pam. The partnership has $300,000 of operating income in 2016 and $230,000 of operating expenses. It pays both Pam and Steve a guaranteed payment of $30,000. It also makes a charitable contribution of $1,000 to the Alzheimer's Association and has a short-term capital loss of $5,000. Pam's share of partnership items is: $5,000 of operating income, $30,000 guaranteed payment, $5,000 capital loss and $1,000 charitable contribution deduction. $35,000 of operating income, $30,000 guaranteed payment, $2,500 capital loss and $500 charitable contribution deduction. $30,000 of operating income, $30,000 guaranteed payment, $5,000 capital loss and $1,000 charitable contribution deduction. $5,000 of operating income, $30,000 guaranteed payment, $2,500 capital loss and $500 charitable contribution deduction.