Sophia Owns 20% of a Partnership That Reported Net Income

question 90

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 gross income for the year?

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

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