Question

This year, FGH Partnership generated $800,000 ordinary business income. FGH has two equal partners: Triad LLC and Beta, an S corporation. Triad LLC has three members: Mr. T, who owns a 40 percent interest; Mrs. U, who owns a 35 percent interest; and V Inc., which owns a 25 percent interest. Beta has 100 shares of outstanding stock, all of which are owned by Ms. B. Identify the taxpayers who must pay tax on the partnership income, and determine how much income must be reported by each. Mr. T Mrs. U Vinc Ms. B Triad LLC Beta

Answer 1

The given that Tosaed LLC and Beta are two equal partney $ 800.0 will be de fidad among dhe equally $400.000 gach. 400000 Secco → MOT 400000 X 40% MOT 400000 x Ooh MoiT 160000 → MOB.U. 100000X 35%. mrs.o 400000 X0:35 MOSO 140000 → Vinc 400000 X25"). VInc 400000 X0.25 [Vine 100000] » Beta has one number MS.B whoold 100% Shovel 400000 X 100% CS Scanned with Ms.B CamScanner

MS.B 400 000X1 MS-B HOO 000 1 * Traid LLC & Beta will shows its income Qit has been reported byits membou following Income deposited Each. MOT 160000 Mrs.u 140000 Nanc 100000 MS.B 400 000 Traid NIL NIL Beta Scanned with CamScanner