a..The partnership has ordinary income of $100,000 before the payment of a guaranteed payment of...
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Accounting
a..The partnership has ordinary income of $100,000 before the payment of a guaranteed payment of $30,000 to Partner A. Partners A and B are 50-50 partners. What is the total income to Partner A and B for the year? Show your work.
b.In what taxable year must a partner recognize her share of partnership income?
c. When must expenses be incurred in order to be organizational expenses?
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