GD Inc. is a general partnership with two 50% partners, Greg and Dana. Each contributed...
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Accounting
GD Inc. is a general partnership with two partners, Greg and Dana. Each contributed $ for their initial stake in the partnership. During the first year, the partnership records nonseparately stated income of $ tax exempt interest of $ and accumulates $ of debt. The partnership also distributes $ cash to each partner during the year ie $ total On how much income will each partner owe tax this year?
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