Multiple Choice
Elena owns 25% of a partnership that reported net income of $100,000 for the year. During the year $5,000 was distributed to Elena from the partnership. How much should Elena include in her taxable income for the year?
A) $30,000
B) $25,000
C) $5,000
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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