José,a cash method taxpayer,is a partner in J&T Accounting Services,a calendar year partnership.Under the partnership agreement,José is to receive 20% of the partnership's profits or losses.Each partner is allowed to withdraw $12,000 each month for his or her living expenses.José withdrew $144,000 during the year as his monthly draw in 2010.In February of each year,the partnership computes its net profit and decides how much should be retained in the business.The balance of the earnings is distributed to the partners in early March.In March 2010,José received $20,000 as a distribution of 2009 profits,and in March 2011,José received $30,000 as his share of distributed 2010 profits.The partnership earnings before partners' withdrawals for 2010 totaled $900,000.Compute José's gross income from the partnership for 2010.

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The Answer of José,a cash method taxpayer,is a partner in J&T Accounting Services,a calendar year partnership.Under the partnership agreement,José is to receive 20% of the partnership's profits or losses.Each partner is allowed to withdraw $12,000 each month for his or her living expenses.José withdrew $144,000 during the year as his monthly draw in 2010.In February of each year,the partnership computes its net profit and decides how much should be retained in the business.The balance of the earnings is distributed to the partners in early March.In March 2010,José received $20,000 as a distribution of 2009 profits,and in March 2011,José received $30,000 as his share of distributed 2010 profits.The partnership earnings before partners' withdrawals for 2010 totaled $900,000.Compute José's gross income from the partnership for 2010.

José,a Cash Method Taxpayer,is a Partner in J&T Accounting Services,a