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Sagot :
There are different form of partnership. The statements that correctly describes the effect these items have on the partner's self-employment earnings (loss) is given below;
- Both General partner - ordinary business income (loss) and guaranteed payments affect self-employment earnings (loss) and Limited partner - only guaranteed payments affect self-employment earnings (loss).
A general partner is known to be a type of owner of a partnership and they are said to either be a managing partner or active in the daily operations of the firm.
General partners are mandated to include any guaranteed payments they get and their share of ordinary business income (loss) in their self-employment earnings (loss).
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