partnership agreement App Store 3:42 PM Mon Apr 25 4...
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partnership agreement
App Store 3:42 PM Mon Apr 25 4 [ 37 Expert Q&A Done Under a partnership agreement, Didier Foucault is to receive 30% of the partnership's income, but not less than $21,000. The partnership's net income for this year was $52,000. What amount can the partnership deduct as a guaranteed payment and what amount of income is Didier required to report on his individual tax return? A) Partnership deduction: $21,000. Didier's income: $36,600. B) Partnership deduction: $21,000. Didier's income: $15,600 C) Partnership deduction: $5,400. Didier's income: $36,600. D) Partnership deduction: $5,400. Didier's income: $21,000 App Store 3:42 PM Mon Apr 25 4 [ 37 Expert Q&A Done Under a partnership agreement, Didier Foucault is to receive 30% of the partnership's income, but not less than $21,000. The partnership's net income for this year was $52,000. What amount can the partnership deduct as a guaranteed payment and what amount of income is Didier required to report on his individual tax return? A) Partnership deduction: $21,000. Didier's income: $36,600. B) Partnership deduction: $21,000. Didier's income: $15,600 C) Partnership deduction: $5,400. Didier's income: $36,600. D) Partnership deduction: $5,400. Didier's income: $21,000
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