True/False
Rose is a 50% partner in Wren Partnership.During the year, Wren earned net profit of $100,000 ($210,000 gross income - $110,000 operating expenses) and distributed $20,000 to each partner.Rose must report Wren Partnership profit of $20,000 on her Federal income tax return.
Correct Answer:
Verified
Correct Answer:
Verified
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