Answered step by step
Verified Expert Solution
Question
1 Approved Answer
rst partnership reported net ordinary income of 54,000, 4000 interest income, 700 charitable contributions and section 179 deduction of 15000, pam is a general partner
rst partnership reported net ordinary income of 54,000, 4000 interest income, 700 charitable contributions and section 179 deduction of 15000, pam is a general partner who owns a 30% interest in rst. in addition to her share of ordinary income, she received 16,000 guaranteed payment and had 0 distributions during the year. what is the amount of Pam's self employment income from rst?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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