Business
Business, 18.10.2019 03:30, jonathanmagana112002

Molly is a 30% partner in the map partnership. during the current tax year, the partnership reported ordinary income of $200,000 before payment of guaranteed payments and distributions to partners. the partnership made an ordinary cash distribution of $20,000 to molly, and paid guaranteed payments to partners molly, amber, and pat of $20,000 each ($60,000 total guaranteed payments). how much will molly’s adjusted gross income increase as a result of the above items? a. $42,000 b. $60,000 c. $62,000 d. $80,000

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Molly is a 30% partner in the map partnership. during the current tax year, the partnership reported...

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