Question about business partnership benefits

[jc0011]

My husband is a partner and I understand that his guaranteed payments are self-employment income. 

What about small things like gift cards the company gave him? And the benefit of personal use of company-provided laptop and phone? My understanding is that these would be taxable income to an employee. In his case as a partner, would they go under self-employment income?

[PatriciaV]

Most de-minimis fringe benefits are not reportable for the partnership or the partner that receives them. If the laptop and phone are provided and used primarily for business purposes, the use of that equipment is not reportable.

The partnership should include any taxable benefits as part of the reported guaranteed payments.

See IRS Publication 15-B Section 2 Fringe Benefit Exclusion Rules for more information.