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Samuel is the managing general partner of STU in which he owns a 25% interest. For the year STU reported ordinary income of $400,000 (after
Samuel is the managing general partner of STU in which he owns a 25% interest. For the year STU reported ordinary income of $400,000 (after deducting all guaranteed payments). In addition, the LLC reported interest income of $12.000. Samuel received a guaranteed payment of $120,000 for services he performed for STUE How much income from selfemployment did Samuel earn from STUP $223.000 b. $220,000 C. $100,000 d. $120,000
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
13th Canadian Edition
1119740460, 978-1119740469
