Explain what is rex''s gross income from the partnership

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Rex is a partner with a 30% interest in the partnership profits when he received $200,000. In 2013, the partnership generated $400,000 of taxable income, and Rex withdrew $100,000. In 2014, the partnership had $600,000 of taxable income, and Rex was able to withdraw $200,000. What is Rex's gross income from the partnership in 2013, and 2014?

Reference no: EM1349077

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