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Can anyone help me? 4 Barry and Kurt are equal partners in the BK Partnership. Barry receives a guaranteed payment of $65,000. In addition to

Can anyone help me?

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4 Barry and Kurt are equal partners in the BK Partnership. Barry receives a guaranteed payment of $65,000. In addition to the guaranteed payment, Barry withdraws $15,000 from the partnership. The partnership has $32,000 in ordinary income during the year. Required: a. How much income must Barry report from BK Partnership? b. What is the effect of the distribution on Barry's partnership basis? 01:28:44 a. Income to Barry b. Barry's partnership basis

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