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Under a partnership agreement, Amira is to receive 50% of the partnership's income, but not less than $40,000. The partnership's net income for the year
Under a partnership agreement, Amira is to receive 50% of the partnership's income, but not less than $40,000. The partnership's net income for the year was $150,000 (before taking into account guaranteed payments).
What is the total guaranteed payment that will be reported in box 4c of Amira's Schedule K-1 (Form 1065)?
O $0
$35,000
$40.000%
O $75,000
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