This year XY partnership reported income before guaranteed payments of $100,000' X performed services for the partnership

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This year XY partnership reported income before guaranteed payments of $100,000' X performed services for the partnership and received 120,000 . Calculate Ordinary income/ loss and how much income will X report( X and Y are equal partners)

Posted Date: May 18, 2024 08:07 AM

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This year XY partnership reported income before guaranteed payments of $100,000' X performed services for the partnership

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