An examination of the RB Partnership's tax books provides the following information for the current years Sales Revenue Cost of Goods Sold Long-term capital gain Operating expenses Guaranteed payment to Rachel for services Depreciation Expense (MACRS) Cash distributions to each partner Section 179 expense elected Interest on Colorado state bonds (exempt interest income) 450,000 130,000 6,000 100,000 45,000 50,000 20,000 25,000 2,000 Rachel is a 40% general partner in partnership capital profits, and losses. a. Compute Ordinary Income for the Partnership, Label each itern in your calculation b List the items (description and amount from the above Information that Rachel (40% owner must report on her 1040 What is the amount of Rachel's earnings that are subject to sell omployment tax assuming this is her only business income? d. What is Rachel's tentative Qualified Business Income deduction? For the toolbar.press ALT 10 (PC or ALT+FN+F10(Mac Maps i How to Become a 5. t The 22 Best Items 10 Free Tactical Art Alex Sedlak Mentor Alex Sediat Mentor Create Listing Pos possible for Show Timer Question Completion Status: 450,000 130,000 6,000 An examination of the RB Partnership's tax books provides the following information for the current year: Sales Revenue Cost of Goods Sold Long term capital gain Operating expenses Guaranteed payment to Rachel for services Depreciation Expense (MACRS) Cash distributions to each partner Section 179 expense elected Interest on Colorado state bonds (exempt interest income) 100,000 45,000 50,000 20.000 25,000 2,000 Rachel is a general partner in partnership capital, profits and losses. Compute Ordinary income for the Partnership. Label each item in your calculation 6.List the description and amount) from the above information that Rachel (40% owner) must report on her 1040 What is the amount of Rachel's earnings that are subject to self-employment tax assuming this is her only business income? What is Rachel's tentative Qualified Business Income deduction? For the toolbar.press ALT F10 PC or ALTAN F10 (Mac) B I US Paragraph Arial 10pt A 88. TT 99 EB 11! ill I T: x a c. BE BC 39 > ) An examination of the RB Partnership's tax books provides the following information for the current years Sales Revenue Cost of Goods Sold Long-term capital gain Operating expenses Guaranteed payment to Rachel for services Depreciation Expense (MACRS) Cash distributions to each partner Section 179 expense elected Interest on Colorado state bonds (exempt interest income) 450,000 130,000 6,000 100,000 45,000 50,000 20,000 25,000 2,000 Rachel is a 40% general partner in partnership capital profits, and losses. a. Compute Ordinary Income for the Partnership, Label each itern in your calculation b List the items (description and amount from the above Information that Rachel (40% owner must report on her 1040 What is the amount of Rachel's earnings that are subject to sell omployment tax assuming this is her only business income? d. What is Rachel's tentative Qualified Business Income deduction? For the toolbar.press ALT 10 (PC or ALT+FN+F10(Mac Maps i How to Become a 5. t The 22 Best Items 10 Free Tactical Art Alex Sedlak Mentor Alex Sediat Mentor Create Listing Pos possible for Show Timer Question Completion Status: 450,000 130,000 6,000 An examination of the RB Partnership's tax books provides the following information for the current year: Sales Revenue Cost of Goods Sold Long term capital gain Operating expenses Guaranteed payment to Rachel for services Depreciation Expense (MACRS) Cash distributions to each partner Section 179 expense elected Interest on Colorado state bonds (exempt interest income) 100,000 45,000 50,000 20.000 25,000 2,000 Rachel is a general partner in partnership capital, profits and losses. Compute Ordinary income for the Partnership. Label each item in your calculation 6.List the description and amount) from the above information that Rachel (40% owner) must report on her 1040 What is the amount of Rachel's earnings that are subject to self-employment tax assuming this is her only business income? What is Rachel's tentative Qualified Business Income deduction? For the toolbar.press ALT F10 PC or ALTAN F10 (Mac) B I US Paragraph Arial 10pt A 88. TT 99 EB 11! ill I T: x a c. BE BC 39 > )
