Andrew gives his brother Steve a 20 interest in the AS Partnership, and he retains a 30 interest Andrew works for the partnership but is not paid How will this arrangement affect the income from the AS Partnership that Andrew and Steve report ...

The distributive shares allocated to Andrew and Steve will ...

Andrew gives his brother Steve a 20% interest in the AS Partnership, and he retains a 30%

Question:

Andrew gives his brother Steve a 20% interest in the AS and he retains a 30% interest. Andrew works for the but is not paid. How will this arrangement affect the income from the AS that Andrew and Steve report?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...