FEDERAL TAX ACCOUNTING

Your clients, Grayson Investments, Inc. (Ana Marks, President), and Blake Caldwell, each contributed $200,000 of cash to form the Realty Management Partnership, a limited partnership. Grayson is the general partner, and Blake is the limited partner. The partnership...

Federal Tax Accounting

RP2. Stock purchased by an employee William B. Good became an employee of GOODIE Co. Inc., Inc., a privately held firm. On January 15, 2017, William B. Good was allowed to buy 20,000 shares of GOODIE Co. Inc. stock for $40,000 dollars. When William B. Good bought the...