Cornell and Joe are equal partners in Jones Company.For the current year,Jones reports the following items of income and expense:

In addition to his Jones earnings,Joe has other net taxable income of $45,000.Included in the $45,000 is $10,000 in income from a passive activity.Joe's income is:
A)$152,000
B)$157,000
C)$162,000
D)$167,000
E)$182,000

Question

Cornell and Joe are equal partners in Jones Company.For the current year,Jones reports the following items of income and expense:
​

In addition to his Jones earnings,Joe has other net taxable income of $45,000.Included in the $45,000 is $10,000 in income from a passive activity.Joe's income is:
A)$152,000 
B)$157,000 
C)$162,000 
D)$167,000 
E)$182,000

Quizplus · Accepted Answer

The Answer of Cornell and Joe are equal partners in Jones Company.For the current year,Jones reports the following items of income and expense:
​

In addition to his Jones earnings,Joe has other net taxable income of $45,000.Included in the $45,000 is $10,000 in income from a passive activity.Joe's income is:
A)$152,000 
B)$157,000 
C)$162,000 
D)$167,000 
E)$182,000

Cornell and Joe Are Equal Partners in Jones Company