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Maria and Javier are the equal partners in MarJa, a partnership that is a qualifying...

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Accounting

Maria and Javier are the equal partners in MarJa, a partnership that is a qualifying trade or business. In the current year, MarJa had $350,000 of ordinary income after reporting $500,000 in guaranteed payments to Maria and Javier for their services to MarJa ($250,000 each).

a. What is Maria's and Javier's qualified business income?

b. How would your answer to part (a) change if MarJa had $550,000 of ordinary income after reporting $300,000 in guaranteed payments to Maria and Javier ($150,000 each)?

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