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AB Partnership with A and V as partners has net income amounting to 1,500,000 for 2019. A has a separate business. His business during the
AB Partnership with A and V as partners has net income amounting to 1,500,000 for 2019. A has a separate business. His business during the year had net sales of 1,000,000, cost of sales of 500,000, and operating expenses of 300,000. Assuming the partnership is a GPP, how much is the net distributable share of B assuming B shares 10%?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
