Lisa is a 30% partner in Darlene's Deli. She is to receive a guaranteed payment of no

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Lisa is a 30% partner in Darlene's Deli. She is to receive a guaranteed payment of no less than $10,000. If the partnership's ordinary income before deducting the guaranteed payment is $40,000, what is Lisa's distributive share?

a). $9,000

b). $10,000

c). $12,000

d). $22,000

Related Book For answer-question

Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Posted Date: Dec 31, 2020 10:53 AM

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Lisa is a 30% partner in Darlene's Deli. She is to receive a guaranteed payment of no

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Federal Taxation 2016 Comprehensive

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