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Discuss what is the taxable income debbie and betty

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Reference no: EM131775037

Debbie and Betty operate the D & B partnership. Betty, a 50 percent partner, receives a guaranteed payment of $10,000 for her services in operating the partnership. The partnership has income before the guaranteed payment of $5,000. What is the taxable income Debbie and Betty must each report from the partnership for the year?

Debbie should report income of $__________.

Betty should report income of $__________.

 

Reference no: EM131775037

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