self managed rental property in partnership

[Jed94568]

I (partner A) own and manage a rental property in a partnership. Example: Gross income = 60,000. Expenses are16,000 plus 4,000 mgmt fees totaling 20,000. This leaves 40,000 of partnership profit. 50% of profits before taxes to partner B is 20,000 and 50% to myself, partner A, is 20,000 plus the 4,000 mgmt fee, totaling 24,000 for partner A. Is this the right way to report taxable to both partners?