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Author Question: Ben is a 30% partner in a partnership. The partnership guarantees Ben payments of $25,000 for the ... (Read 75 times)

joblessjake

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Ben is a 30% partner in a partnership. The partnership guarantees Ben payments of $25,000 for the year. If the partnership has ordinary income of $15,000 before adjustment for the guaranteed payment, Ben must report
◦ ordinary income of $22,000.
◦ an ordinary loss of $3,000.
◦ ordinary income of $25,000 and a partnership income of $4,500.
◦ ordinary income of $25,000 and a partnership loss of $3,000.


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Marked as best answer by joblessjake on Sep 13, 2020

ntsoane kedibone

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joblessjake

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


peter

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Reply 3 on: Yesterday
:D TYSM

 

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