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How much is veneia adjusted gross income increased

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Reference no: EM131704481

Question - Veneia is a 30% general partner in the calendar year, cash basis TUV partnership. The partnership received $125,000 income from services and paid the following other amounts:

Rent expense $12,000

Salary expense to employees 40,000

Payment to Veneia for services, per the partnership agreement 16,000

Distributions to partners, Tom and Ursela 18,000

Payment to 30% cash basis partner Tom for tax and accounting services 5,000

How much is Veneia's adjusted gross income increased as a result of the above items?

Reference no: EM131704481

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