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Author Question: Rocky and Charlie form RC Partnership as equal partners. Rocky contributes $100,000 into RC while ... (Read 78 times)

robinn137

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on: Sep 13, 2020

Question 1

In an S corporation, shareholders
◦ are taxed on their proportionate share of earnings.
◦ are taxed only on dividends.
◦ may allocate income among themselves in order to consider special contributions.
◦ are only taxed on salaries.

Question 2

Rocky and Charlie form RC Partnership as equal partners. Rocky contributes $100,000 into RC while Charlie contributes real estate with a cost and fair market value of $100,000. During the current year, RC earned net income of $600,000. The partnership distributes $200,000 to each partner. The amount that Rocky should report on his individual tax return is
◦ $0.
◦ $100,000.
◦ $200,000.
◦ $300,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by robinn137 on Sep 13, 2020

sultansheikh

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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robinn137

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

ricroger

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Reply 3 on: Yesterday
Wow, this really help

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