Solved: In the current year tav reports 300000 of ordinary income, Accounting Basics

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In the current year tav reports 300000 of ordinary income

Question - Tina manages the real estate owned by the TAV partnership and is also a 30% partner. She receives 30% of all partnership income before guaranteed payments, but no less than $60,000 per year. In the current year TAV reports $300,000 of ordinary income; Tina's share is $90,000. How much is her guaranteed payment?

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Accounting Basics: In the current year tav reports 300000 of ordinary income

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