Elena Owns 25% of a Partnership That Reported Net Income

question 21

Multiple Choice

Elena owns 25% of a partnership that reported net income of $100,000 for the year.Elena's basis in her partnership interest is $20,000 at the beginning of the year.During the year $5,000 was distributed to Elena from the partnership.Assuming Elena's QBI deduction is not limited, how much in the net amount Elena is taxed on this year as a result of her interest in this partnership?

• A)$24,000
• B)$20,000
• C)$4,000
• D)$0

Understand common defense mechanisms employed by individuals with alcohol addiction.

Identify appropriate social worker responses to clients exhibiting symptoms of substance abuse.

Recognize the dynamics of child maltreatment within families.

Comprehend key aspects of crisis intervention strategies and their implementation.

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Definitions:

Management

The process of directing and controlling resources and activities to achieve specific goals.

Educational Software

Computer applications designed specifically to assist with teaching and learning. They include a wide range of academic subjects and skills.

Unlimited Liability

A legal condition where a business owner or partner can be held personally responsible for the debts and obligations of the business without any limit.

Limited Partner

An investor in a partnership who is not involved in the day-to-day operations and whose liability is restricted to the amount of their investment.