Lilac Designs is a partnership with a tax year that ends November 30,2013.During that year,William,a partner,received $5,000 per month as a guaranteed payment and his share of partnership income after guaranteed payments was $20,000.For December of 2013,William received a guaranteed payment of
$10,000.Calculate the amount of income from the partnership that William should report for his tax year ended December 31,2013.

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The Answer of Lilac Designs is a partnership with a tax year that ends November 30,2013.During that year,William,a partner,received $5,000 per month as a guaranteed payment and his share of partnership income after guaranteed payments was $20,000.For December of 2013,William received a guaranteed payment of
$10,000.Calculate the amount of income from the partnership that William should report for his tax year ended December 31,2013.

Lilac Designs Is a Partnership with a Tax Year That