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Required information [The following information applies to the questions displayed below.] The partnership agreement of the G&P general partnership states that Gary will recelve a

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Required information [The following information applies to the questions displayed below.] The partnership agreement of the G\&P general partnership states that Gary will recelve a guaranteed payment of $18,600, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. For year 1, the G\&P partnership reports the following results: What do you believe Gary's share of self-employment income (loss) to be reported on his year 1 Schedule K-1 should be, assuming \&P is an LLC and Gary spends 2,000 hours per year working there full time

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