Enercio contributes $100,000 in exchange for a 40% interest in the calendar year abc llc, which is taxed as a partnership. this year, the llc generates $80,000 of ordinary taxable income and has no separately stated income or expenses. enercio withdrew $10,000 from the partnership during the year. enercio is taxed on what amount of abc’s income? on how much of the $10,000 distribution will enercio be taxed?

Enercio would be taxed on $32,000 even though he withdrew $10,000.

Explanation:

Enercio would be taxed on his share of 40% of $80,000 of ordinary taxable income of ABC LLC irrespective of the fact how much has Enercio has withdrawn from the partnership firm. So, here Enercio would be taxed on $32,000 even though he withdrew $10,000.

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