Aaron Jennings, a partner in an engineering firm, is guaranteeda payment of $50,000 each year withou

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Aaron Jennings, a partner in an engineering firm, is guaranteeda payment of $50,000 each year without regard to the firm’s profitor losses. Assuming the payment is correctly reported to him on aSchedule K1, how should Aaron report this income on his return? Passive Income, reported on Schedule E Nonpassive income, reported on Schedule E Wages, salaries, tips, etc. reported directly on Form 1040 Other Income, reported directly on Form 1040 . . .

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