Donald owns a 45% interest in a partnership that earmed $130,000 in the current vear He also
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Donald owns a 45% interest in a partnership that earmed $130,000 in the current vear He also owns 45% of the stock in a Ccorporation that earned $130,000 during the year. Donald received $20,000 in distributions from each of the two entities during the year. With respect to this information, Donald must report $78.500 of income on his Indisdual income tax return for the year O True False
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