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The partnership agreement of the G&P general partnership states that Gary will recelve a guaranteed payment of $14,500, and that Gary and Prudence will share

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The partnership agreement of the G\&P general partnership states that Gary will recelve a guaranteed payment of $14,500, 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 38P is an LL. and Gary spends 2,000 hours per year working there full time

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