Sophia Owns 20% of a Partnership That Reported Net Income

question 93

Multiple Choice

Sophia owns 20% of a partnership that reported net income of $130,000 for the year. During the year $18,000 was distributed to Sophia from the partnership. How much should Sophia include in her taxable income for the year?

• A) $44,000
• B) $29,000.
• C) $26,000
• D) $44,000.

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Definitions:

Silent Suffering

Experiencing pain or distress without expressing it openly or seeking help, often due to fear or stigma.

Curandero

A traditional folk healer or shaman in Latin American cultures, known for using herbal remedies, spiritualism, and rituals to treat physical and spiritual illnesses.

Shaman

A person regarded as having access to, and influence in, the world of good and evil spirits, often within indigenous cultures, and who typically uses trance states to practice healing and divination.

Culturally Sensitive

Having an awareness of, and respect for, the differences in cultures and beliefs, especially in professional practices.