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For the tax year, RST Partnership reported $40,000 net ordinary income, $3,000 interest income,$450 charitable contributions and $16,000 179 deduction. Renault is a general partnership
For the tax year, RST Partnership reported $40,000 net ordinary income, $3,000 interest income,$450 charitable contributions and $16,000 179 deduction. Renault is a general partnership who own 20%interest in RST. He received a $10,000 guaranteed payment and 0 in distributions during the year. What is the amount of Renault's self employment income from RST?
a. 4,710 b. 4,800 c. 8,000 d. 14,800
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