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Discussion Question 4-12 (LO. 3) Rex purchased a 30% interest in a partnership for $200,000. In 2022, the partnership ge
Posted: Tue Jul 05, 2022 11:47 am
by answerhappygod
- Discussion Question 4 12 Lo 3 Rex Purchased A 30 Interest In A Partnership For 200 000 In 2022 The Partnership Ge 1 (34.43 KiB) Viewed 15 times
Discussion
Question 4-12 (LO. 3) Rex purchased a 30% interest in a partnership for $200,000. In 2022, the partnership generated $400,000 of taxable income and Rex withdrew $100,000. In 2023, the partnership earned $600,000 of taxable income and Rex withdrew $200,000. What is Rex's gross income from the partnership in 2022 and 2023? 2022: 2023: $ $ X X