Question: 4. a. How is a Sec. 707(a) payment to a partner for services treated by the partner and the partnership? When will it be recognized

4. a. How is a Sec. 707(a) payment to a partner for services treated by the partner and the partnership? When will it be recognized by a cash basis partner? When will it be deducted by a partnership?

b. How is a guaranteed payment for services treated by the partner and the partnership? When is it recognized or deducted?

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