Business
Business, 06.05.2021 01:00, ineedhelp2285

Burgundy, Inc., and Violet Gomez are equal partners in the calendar year BV LLC. Burgundy uses a fiscal year ending April 30, and Violet uses a calendar year. Burgundy receives an annual guaranteed payment of $100,000 for use of capital contributed by Burgundy. BV's taxable income (after deducting Burgundy's guaranteed payment) is $80,000 for 2021 and $90,000 for 2022. a. How much income from BV must Burgundy report for its tax year ending April 30, 2015?
b. How much income from BV must Violet report for her tax year ending December 31, 2015?

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Burgundy, Inc., and Violet Gomez are equal partners in the calendar year BV LLC. Burgundy uses a fis...

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