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Which of the following statements is TRUE about guaranteed payments for services performed? Guaranteed payments are: Made by the partnership to the partner and are

Which of the following statements is TRUE about guaranteed payments for services performed? Guaranteed payments are:
Made by the partnership to the partner and are determined by the amount of partnership income or loss.
Generally subject to self-employment tax.
Reported on the receiving partner's Schedule E (Form 1040) as net short-term capital gains.
Not included in the partner's taxable income as they are calculated outside of the normal profit and loss for the partnership.

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