Bonnie and george are equal general partners in bg partnership. bonnie receives a $4,000 monthly guaranteed payment for services. this year, bg generated $95,000 profit (before consideration of bonnie’s guaranteed payments).a. compute each partner’s distributive share of ordinary business income. b. compute each partner’s self-employment income. c. how would your answers change if bg’s profit was only $32,000 instead of $95,000? (losses should be indicated by a minus sign.)

a. Bonnie Share is $23,500  

   George Share is $23,500  

b. Partner's Self Employment Business Income  for Bonnie is $71,500and for George is $23,500.

c. Partner's Self Employment Business Income change to $40,000 for  Bonnie and to -$8,000 for George.

Explanation:

a.  

Income of BG Partnership before any Guarantee          95,000  

Guarantee Payment - Bonnie - $4000 X 12                  (48,000)  

Ordinary Business Income                                                   47,000

Bonnie Share = 47,000*50%                                                          

                       = 23,500  

George Share = 47,000*50%                                                          

                        = 23,500  

b.  

                                                                           Bonnie         George

Ordinary Business Income                             23,500          23,500

Gurantee Payment Recd                             48,000               -  

Partner's Self Employment Business Income   71,500          23,500

c.  

Income of BG Partnership before any Guarantee          32,000  

Guarantee Payment - Bonnie  [$4000*12]                          (48,000)  

Ordinary Business Income                                                   (16,000)  

Bonnie Share =  -16,000*50%        

                       = -8,000  

George Share = -16,000*50%        

                        = -8,000  

                                                                                  Bonnie          George

Ordinary Business Income                                    (8,000)          (8,000)

Add: Gurantee Payment Recd                            48,000               -  

Partner's Self Employment Business Income    40,000          (8,000)

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