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The PDQ Partnership earned ordinary income of $150...

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The PDQ Partnership earned ordinary income of $150,000 in 2012. The partnership has three equal partners, Pete, Donald, and Quint. Quint who is single, uses the standard deduction, and has other income of $15,000 (not connected with the partnership) in 2012. He receives a $30,000 distribution from the partnership during the year. What are the total tax consequences for Quint in 2012?,Wondering if this question is going to get approved and worked on. Let me know. Thanks.

 

Paper#3304 | Written in 18-Jul-2015

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