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Allocating Income to Partners DEF Services is owned by individuals, Mac, Norm, Otto, and Paul. They share profits and losses 40:30:15:15. Mac and Norm have

Allocating Income to Partners

  1. DEF Services is owned by individuals, Mac, Norm, Otto, and Paul. They share profits and losses 40:30:15:15. Mac and Norm have tax years ending 6/30. Otto and Paul use the calendar year. The partnership

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