Samuel Is the Managing General Partner of STU, in Which

question 18

Multiple Choice

Samuel is the managing general partner of STU, in which he owns a 30% interest.For the year, STU reported income of $260,000 (after deducting all guaranteed payments) .Samuel received a guaranteed payment of $40,000 for capital that he had loaned the partnership, and he 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)$120,000.
• B)$160,000.
• C)$198,000.
• D)$238,000.
• E)$380,000.

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