What is the appropriate treatment of a Guaranteed Payment to a partner? Does not impact partnership income, and treated as a distribution by the recipient. Reduces partnership ordinary income, and treated as a distribution by the recipient. Does not impact partnership income, and treated as ordinary income by the recipient. Reduces partnership ordinary income, and treated as ordinary income by the recipient. Question 5 (0.75 points) Listen Brooke and John formed a partnership. Brooke received 40% in exchange for contributing land (AB 30, FMV 120). John contributed cash of 180 and received a 60% interest. Three years after the contribution, the land is sold by the partnership for 150. How much gain, if any, will be allocated to Brooke as a result of this sale? 0 12 36