AB partnership ears $500,000 in the current year. Partner A and B are equal partners who do not receive any distributions during the year. How much income does partner A report from the partnership.

A:$500,000
B:0
C:$250,000
D:NONE OF THE ABOVE


Answer: C:$250,000
Explanation: $500,000 × .5 = $250,000

Business

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