Page 24 - Partnerships

PARTNERSHIPS

Framework: Each partner

Partner’s portion of profit/(loss) from the partnership (50%) xxx

Add/less: adjustments i.r.o.partnership income, e.g.:
¢Salary xxx xxx

¢Interest received on capital account xxx xxx

¢Other interest received by partnership (xxx) xxx
¢Taxable dividends received by partnership

¢Bad debts written off

¢Insurance policy
Other taxable receipts/accruals xxx

Deductions (xxx)

Taxable income xxx

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