Michael’s question:
My question is about 1065, K-1,Part III section 4 Guaranteed Payments. In Lender's Online Training you taught us that guaranteed payments are cashflow, and that we should reframe the word 'guaranteed' to 'agreed upon' payments since if the company does not have sufficient operating cashflow to pay them, they probably are not actually guaranteed. Do these payments show up anywhere on the individual’s tax returns?
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