Business, 01.02.2021 06:10, prettyboytony4738

You are a 25% partner of ABC, LP. Here are some additional facts – • ABC’s 2020 partnership tax return, when filed, will show that it earned total taxable income for the year 2020 of exactly $1,740,000.
• ABC distributed cash to its partners during 2020 in the aggregate total amount (i. e., to all partners as a group) of $1,400,000.

What total taxable income amount will you be reporting on your 2020 Form 1040 (when filed) as a result of your status as an ABC partner?

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You are a 25% partner of ABC, LP. Here are some additional facts – • ABC’s 2020 partnership tax ret...