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monitta
3 years ago
12

OMG! Does anyone remember the commercial that goes “1-800-CONTACTS”

Business
2 answers:
Romashka-Z-Leto [24]3 years ago
8 0

Answer:

YESSSSSS I DOOOOOO THAT THING WAS WERIDDDD

Marina CMI [18]3 years ago
8 0

Answer:

Yes

Explanation:

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Exercise 13-26 (LO. 5) Henry is a 50% partner in HJ Partnership. This year, the tax form he receives from HJ (Schedule K-1 of Fo
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20,000

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Henry has already received the $10,000 from HJ, It would be considered as a partial withdrawal of his share of profit. His total income should be 20,000 (40,000 x 50%) so the remaining 10,000 of his share of profit may be received by him later on a future date

Henry must report on his Form 1040 from HJ for the tax year = 40,000 x 50%

Henry must report on his Form 1040 from HJ for the tax year = 20,000

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