Samuel Is the Managing General Partner of STU in Which

question 69

Multiple Choice

Samuel is the managing general partner of STU in which he owns a 25% interest. For the year, STU reported ordinary income of $400,000 (after deducting all guaranteed payments) . In addition, the LLC reported interest income of $12,000. Samuel received a guaranteed payment of $120,000 for services he performed for STU. How much income from self-employment did Samuel earn from STU?

• A) $100,000
• B) $120,000
• C) $220,000
• D) $223,000

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Definitions:

Stronger Relationships

Connections between individuals that are enhanced through trust, communication, and understanding, leading to deeper emotional bonds.

Fewer Misunderstandings

A reduction in the number of incorrect interpretations or confusions between communicating parties.

Establish Relationships

The process of creating connections or bonds with others, which can be based on emotions, professional ties, or mutual interests.

Men

Refers to adult human males.