Business, 22.02.2020 03:35, cjjohnson1221

Rex became a partner with a 30% interest in the partnership profits when he invested $200,000. In 2019, the partnership generated $400,000 of taxable income, and Rex withdrew $100,000. In 2020, the partnership had $600,000 of taxable income, and Rex withdrew $200,000.What is Rex's gross income from the partnership in 2019 and 2020?

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Rex became a partner with a 30% interest in the partnership profits when he invested $200,000. In 20...