Maria and Javier are the equal partners in MarJa, a partnership that is a qualifying trade or business. In the current year, MarJa had $350,000 of ordinary income after reporting $500,000 in guaranteed payments to Maria and Javier for their services to MarJa ($250,000 each). a. What is Maria's and Javier's qualified business income? b- What's Maria's and Javier's qualified business income if Marja had $550,000 of ordinary income after reporting $300,000 in guaranteed payments to Maria and Javier ($150,000 each)?
Maria and Javier are the equal partners in MarJa, a partnership that is a qualifying trade or business. In the current year, MarJa had $350,000 of ordinary income after reporting $500,000 in guaranteed payments to Maria and Javier for their services to MarJa ($250,000 each). a. What is Maria's and Javier's qualified business income? b- What's Maria's and Javier's qualified business income if Marja had $550,000 of ordinary income after reporting $300,000 in guaranteed payments to Maria and Javier ($150,000 each)?
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 14CE
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Maria and Javier are the equal partners in MarJa, a partnership that is a qualifying trade or business. In the current year, MarJa had $350,000 of ordinary income after reporting $500,000 in guaranteed payments to Maria and Javier for their services to MarJa ($250,000 each).
a. What is Maria's and Javier's qualified business income?
b- What's Maria's and Javier's qualified business income if Marja had $550,000 of ordinary income after reporting $300,000 in guaranteed payments to Maria and Javier ($150,000 each)?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT