The National Directory of Certified Public Accountants

Ask A CPA - Partnerships - Form 1065

What Are Guaranteed Payments ?

Guaranteed payments are made to individual partners for services rendered or for use of capital, and are not based on a partner's share of partnership income. The guaranteed payments are deducted from partnership income before determining the partnership's profit or loss.

If you need professional help with "Partnerships - Form 1065" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.