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Calculate the amount of income from the partnership

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Reference no: EM132677036

Problem - R&S Associates is a partnership with a tax year that ends on August 31, 2019. During the partnership's tax year, Robert, a partner, received $1,000 per month as a guaranteed payment, and his share of partnership income after guaranteed payments was $21,000. For September through December of 2019, Robert's guaranteed payment was increased to $1,500 per month. Calculate the amount of income from the partnership that Robert should report for his 2019 calendar tax year.

Reference no: EM132677036

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