Enercio contributes $288,200 in exchange for a 40% interest in the calendar year ABC LLC, which...
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Enercio contributes $288,200 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $230,560 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $28,820 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? How much of the $28,820 withdraw will Enercio be taxed? Enercio contributes $288,200 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $230,560 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $28,820 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? How much of the $28,820 withdraw will Enercio be taxed?
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Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts
ISBN: 9781305399884
39th edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
Posted Date:
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