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    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 17: an Introduction to Taxation
  5. Question
    AB Partnership Earns $500,000 in the Current Year
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AB Partnership Earns $500,000 in the Current Year

Question 3

Question 3

Multiple Choice

AB Partnership earns $500,000 in the current year.Partners A and B are equal partners who do not receive any distributions during the year.How much income does partner A report from the partnership?


A) $0
B) $250,000
C) $500,000
D) None of the above

Correct Answer:

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