Question: Dorene is a 5 0 % general partner in a bakery. Per the partnership agreement, she will receive a minimum guaranteed payment arrangement for this

Dorene is a 50% general partner in a bakery. Per the partnership agreement, she will receive a minimum guaranteed payment arrangement for this year of $25,000 for the work that she does running the bakery. The ordinary income for the partnership on Schedule K, line 1 is $40,000. On Dorene's partnership Schedule K-1, what amount should be included in box 1, box 4, and box 14?1. box 1-$7,500, box 4-$25,000, box 14-$32,500,2. box 1-$25,000, box 4-$5,000, box 14-$30,000

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