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Guaranteed Payments Qualify as 'Earned Income' for IRA Deductibility Purposes?
BenefitsLink Message BoardsLink to more items from this source
Apr. 19, 2021

"Client owns a 50% membership interest in an LLC being taxed as a partnership. LLC had a loss on the year, but the client received taxable income in the form of guaranteed payments. This amount qualified as 'earned income' and can be contributed to an IRA, correct?"

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