Question
Robin, Monica, and Rose have a partnership that is a qualified business. In the partnership agreement, each partner has a one-third share in income and
Robin, Monica, and Rose have a partnership that is a qualified business. In the partnership agreement, each partner has a one-third share in income and expenses. The partnership generated qualified business income (QBI) of $150,000, paid total W-2 wages of $120,000, and purchased qualified property with an unadjusted basis of $60,000. There are no special allocations to partners. What is Robin’s allocable share of QBI, W-2 wages, and qualified property, respectively?
A.QBI $150,000 W-2 Wages $120,000 Qualified Property $60,000
B.QBI $50,000 W-2 Wages $40,000 Qualified Property $20,000
C.QBI $50,000 W-2 Wages $40,000 Qualified Property $60,000
D.QBI $450,000 W-2 Wages $360,000 Qualified Property $180,000
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
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