Jason purchased a 20 percent interest in JKL Partnership for $20,000 at the beginning of the year.At year-end, the partnership reported net income of $15,000 and distributed $2,000 cash to Jason.What is included in Jason's gross income as a result of his interest in JLK Partnership?
A)$15,000
B)$7,000
C)$5,000
D)$3,000

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The Answer of Jason purchased a 20 percent interest in JKL Partnership for $20,000 at the beginning of the year.At year-end, the partnership reported net income of $15,000 and distributed $2,000 cash to Jason.What is included in Jason's gross income as a result of his interest in JLK Partnership?
A)$15,000
B)$7,000
C)$5,000
D)$3,000

Jason Purchased a 20 Percent Interest in JKL Partnership for $20,000