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Please solve through excel and show step-by-step. This year XY partnership reported income before guaranteed payments of $140,000X performed services for the partnership and received
Please solve through excel and show step-by-step.
This year XY partnership reported income before guaranteed payments of $140,000X performed services for the partnership and received 50,000 . Calculate Ordinary income and how much income will X report( X and Y are equal partners)Step by Step Solution
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