Question - Veneia is a 30% general partner in the calendar year, cash basis TUV partnership. The partnership received $125,000 income from services and paid the following other amounts:
Rent expense $12,000
Salary expense to employees 40,000
Payment to Veneia for services, per the partnership agreement 16,000
Distributions to partners, Tom and Ursela 18,000
Payment to 30% cash basis partner Tom for tax and accounting services 5,000
How much is Veneia's adjusted gross income increased as a result of the above items?