1. 

   Soproudofmyself
   

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   Guaranteed payments to a partner from a partnership are shown as income to the partner and flow through as ordinary income on line 5 (schedule k-1)????? that's Becker's explanation! I'm looking at the K-1 schedule and "ordinary income" is line 1.....am I missing something or is this an error?

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   Posted 1 year ago #
2. 

   CPAMan
   

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   Guaranteed Payments are separately stated on Line 4 of Schedule K-1. It's not added to Line 1.

   FAR: Passed (5x)
   AUD: Passed (2x)
   BEC: Passed (1x)
   REG: Passed (3x)

   Posted 1 year ago #
3. 

   CPA628
   

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   Guaranteed pmts are deductible from partnership income as well as taxed to the partner who receives them.

   AUD: 73, 75 (Becker),
   REG: 71, 72, 92 (Becker, Wiley Testbank & bit of Ninja notes),
   FAR: 79 (Becker & Ninja audio. Audio was a lifesaver),
   BEC: 83 (Becker & Ninja audio),
   Ethics: 93
   
   Failed exams were due to skipping materials and not taking these exams seriously. Passing scores due to reading the book twice, understanding concepts, working MCQs/SIMs multiple times, NINJA audio (FAR & BEC).

   Posted 1 year ago #
4. 

   Soproudofmyself
   

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   so both becker and I messed up lol. I was thinking line 1, but it's clearly stated in line 4. Thanks!

   Posted 1 year ago #

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