Partnership Income, Distributions, Self-Employment

Free IRS Enrolled Agent SEE Part 2 (Businesses) lesson in Business Entities and Considerations. 8 min read, ~1,132 words.

Partnership files Form 1065 by March 15; pays no entity-level tax; each partner receives a Schedule K-1. Partners report their distributive share whether or not the cash is actually distributed. General partners' distributive share plus guaranteed payments equals SE earnings (15.3% up to $176,100 in 2025; 2.9% Medicare thereafter). Limited...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

Learning objectives

• 2

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