Exercise 10-15 (Algorithm Enercio contributes $195,800 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $156,640 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $19,580 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? 0X How much of the $19,580 withdraw will Enercio be taxed? 0✔
Exercise 10-15 (Algorithm Enercio contributes $195,800 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $156,640 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $19,580 from the partnership during the year. If an amount is zero, enter "0". Enercio is taxed on what amount of ABC's income? 0X How much of the $19,580 withdraw will Enercio be taxed? 0✔
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 21CE
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A 313.
Transcribed Image Text:Enercio contributes $195,800 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the
LLC generates $156,640 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $19,580 from the
partnership during the year.
If an amount is zero, enter "0".
Enercio is taxed on what amount of ABC's income?
0 X
How much of the $19,580 withdraw will Enercio be taxed?
0 ✓
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