Enercio contributes $123,200 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $98,560 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $12,320 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? X How much of the $12,320 withdraw will Enercio be taxed? 0

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Enercio contributes $123,200 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year,
the LLC generates $98,560 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $12,320
from the partnership during the year.
If an amount is zero, enter "0".
Enercio is taxed on what amount of ABC's income?
X
How much of the $12,320 withdraw will Enercio be taxed?
0
Transcribed Image Text:Enercio contributes $123,200 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $98,560 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $12,320 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? X How much of the $12,320 withdraw will Enercio be taxed? 0
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