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11.09.2019 •
Business
Wayne owns a 30% interest in the capital and profits of emerald company (a calendar year partnership). for tax year 2018, the partnership earned revenue of $900,000 and had operating expenses of $660,000. during the year, wayne withdrew from the partnership a total of $90,000. he also invested an additional $30,000 in the partnership. for 2018, wayne's gross income from the partnership is:
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