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How much income from self-employment did samuel earn

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Problem 1: Samuel is the managing general partner of STU, in which he owns a 25% interest. For the year, STU reported ordinary income of $400,000 (after deducting all guaranteed payments). In addition, the LLC reported interest income of $12,000. Samuel received a guaranteed payment of $120,000 for services he performed for STU. How much income from self-employment did Samuel earn from STU?

a. $100,000
b. $223,000
c. $220,000
d. $120,000
e. None of these choices are correct.

Reference no: EM132965233

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