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Sarah is to receive 25% of the partnership's income, but not less than $12,000 Under...

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Accounting

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Sarah is to receive 25% of the partnership's income, but not less than $12,000 Under a partnership agreement. The partnership's net income for this year was $32,000. What amount can the partnership deduct as a guarant eed payment, and what amount of income is Sarah required to report on her individual tax return? Partnership: $4,000. Sarah: $12,000. Partnership: $4,000. Sarah: $20,000. Partnership: $12,000. Sarah: $8,000. Partnership: $12,000. Sarah: $20,000. Mark for follow up On May 1, Meli 15% share of partnership Joseph's Jamboree. What is her beginning basis? ania contributed $7.000 and property, with an adjusted basis of $9,500 and a FMV of $11,500, for a

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