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A taxpayer operates a business as a member of a partnership. How will income earned in the partnership be taxed? a. The partnership will be
A taxpayer operates a business as a member of a partnership. How will income earned in the partnership be taxed? a. The partnership will be taxed on the Income and each partner will be taxed on any salary taken b. Each partner will be taxed on the share of net income according to the partnership agreement c. The partnership will be taxed on net profit only d. Each partner will be taxed on withdrawals taken during the year
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