Required information Problem 09-61 (LO 09-4) (Algo) [The following information applies to the questions displayed...
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Required information Problem 09-61 (LO 09-4) (Algo) [The following information applies to the questions displayed below.] The partnership agreement of the G\&P general partnership states that Gary will receive a guaranteed payment of $11,300, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. For year 1 , the G\&P partnership reports the following results: Problem 09-61 Part b (Algo) b. Compute Gary's share of self-employment income (loss) to be reported on his year 1 Schedule K-1, assuming G\&P is a limited partnership and Gary is a limited partner
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