Question
For the tax year , GBH Partnership reported $ 45,000 net ordinary income , $6,000 interest, $800 charitable contributions and $18,000 179 deduction. Pam is
For the tax year , GBH Partnership reported $ 45,000 net ordinary income , $6,000 interest, $800 charitable contributions and $18,000 179 deduction. Pam is a general prtner who owns a 35% interest in GBH. In addition to her share of ordinary income ,she received a $12,000 guaranted payment and had $0 of distributions during the year . What is the amount of Pam's self-employment income from GBH?
A. $15,700
B. $21,450
C. $23,220
D. $27,700
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
