Do i have to file money taken out of business weekly to partners as gaurantee payments?

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Yes, guaranteed payments to partners need to be reported on the business tax return.

These would be reported under the Compensation and Benefits expense section.

To find this, select the Federal tab at the top of the screen, then the Deductions tab, then scroll down to Compensation and Benefits and select to start/edit Guaranteed Payments. See the sample screenshot attached.

I am a partner in a California LLP that is paid Cal. income tax as a "pass through" entity and reported the payments by FTB 3894. How do I enter the payment on my return?

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Do i have to file money taken out of business weekly to partners as gaurantee payments?

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