So on the taxpayers return, I think I'm left with a SE Health Insurance deduction of $3,717 ($4,000 guaranteed payments less $283 for the deductible part of the self employment tax), net partnership income of $2,500 ($4,000 guaranteed payments less loss which is limited by the partner's $1,500 basis), and no self-employed retirement plan contribution deduction for $2,500 based on the fact the partnership had an ordinary loss (even though the taxpayer shows net partnership income due to their basis limitations). Missing anything there?