Business, 03.03.2020 02:46 miya2579

Stephanie is a 40% partner in the SKY Partnership. During the current tax year, the partnership reported ordinary income of $210,000 before payment of guaranteed payments and distributions to partners. The partnership made an ordinary cash distribution of $30,000 to Stephanie and paid guaranteed payments to partners Stephanie, Kirsten, and Yule of $30,000 each ($90,000 total). What is Stephanie's share of the partnership's income?A. $88,000
B. $48,000
C. $78,000
D. $66,000

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Stephanie is a 40% partner in the SKY Partnership. During the current tax year, the partnership repo...

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