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ok ences Individuals A and B carry on business through a partnership. A and B are both active in the business and share profits
ok ences Individuals A and B carry on business through a partnership. A and B are both active in the business and share profits equally after deducting partner salaries. In the current year the partnership paid salaries of $60,000 to A and $80,000 to B. The partnership reported net income $150,000 after partner salaries. The net income includes a gain of $24,000 on the sale of non-depreciable capital property. $12.000 of eligible dividends, and a deduction of $3,000 for charitable donations. Determine A's share of the partnership net income for tax purposes. $
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