Hunter (a 37% taxpayer) and Nan (a 25% taxpayer) form a partnership. Hunter contributes $16640 cash as partnership capital and receives 80% partnership interest. Nan contributes cash $4160 as partnership capital and receives 20% partnership interest. The partnership made $650 income from providing services, $220 long-term capital gain, and makes charitable contribution $180.

What is Hunter's share of the ordinary income?

Answer rating: 100% (QA)

To determine Hunters share of the ordinary income in the partnershi... View the full answer