Answer:
Each will receive:
Gary: $ 16,400
Bill: $24,600
Carmella: $ 41,000
Explanation:
The profit is shared according to the ratios of their investment as per below calculations:
Gary: $82,000×2/10 = 16,400
Bill: $82,000*3/10 = 24,600
Carmella $82,000 *5/10 = 41,000
Answer:
C. Because the couple is divorced, the IRS must apportion the deficiency between Mr. and Mrs. Pitt based on their relative contribution to their 2015 taxable income.
Explanation:
Because Mr and Mrs Pitt filed for a joint tax return in 2017 and got divorced in 2018 and IRS audited their tax return and found that they both underpaid their tax, the IRS must apportion the deficiency 50-50 between both of them based on their separate returns.