At the end of the taxable year, H gave 25% interest in a family partnership to his daughter. H retained 75% interest. H continued to perform duties for the partnership. Partnership income for the following year was $200,000. H's unpaid services were valued at $20,000. To avoid reallocation by the IRS, what amountshould be allocated to H as compensation for services?
$20000 [the value for... View the full answer