The B & W Partnership earned taxable income of $140,000 for the year.Bryan is entitled to 50% of the profits, but he withdrew only $60,000 during the year.Bryan's gross income from the partnership for the year is $60,000.

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Bryan's gross income from the partnership for the year is $70,000, as he is entitled to 50% of the profits ($140,000 * 50%), regardless of how much he actually withdrew.

The B & W Partnership Earned Taxable Income of $140,000