Maria and Javier are the equal partners in MarJa, a partnership that is a qualfied trade or business. In the current year, Marja had $347,400 of ordinary income after reporting $416,880 in guaranteed payments to Maria and Javier for their services to MarJa ($208,440 each). a. What is Maria's and Javier's qualified business income? b. What is Maria's and Javier's qualified business income if Marja had $486,360 of ordinary income after reporting $208,440 in guaranteed payments to Maria and Javier ($104,220 each)?

Maria and Javier are the equal partners in MarJa, a partnership that is a qualfied trade or business. In the current year, Marja had $347,400 of ordinary income after reporting $416,880 in guaranteed payments to Maria and Javier for their services to MarJa ($208,440 each). a. What is Maria's and Javier's qualified business income? b. What is Maria's and Javier's qualified business income if Marja had $486,360 of ordinary income after reporting $208,440 in guaranteed payments to Maria and Javier ($104,220 each)?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter21: Partnerships

Section: Chapter Questions

Problem 2BCRQ

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