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Mandarini Mandarini
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7 years ago
In January of this year, Arkeva, a calendar-year taxpayer, receives a $50,000 guaranteed payment from NFR Partnership. NFR deducted the payment during its tax year ending November 30 of last year. What tax year must Arkeva report her guaranteed payment in?
A) She may elect either year.
B) last year
C) current year
D) She does not need to report guaranteed payments on her return.
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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RimounRimoun
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7 years ago
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Mandarini Author
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7 years ago
Smart ... Thanks!
jmendoza
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This calls for a celebration Person Raising Both Hands in Celebration
jakechambo3
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2 hours ago
Good timing, thanks!
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