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Mr. Coleman, an unmarried individual, had the following income items: Interest income Ordinary loss from an S corporation Ordinary income from a partnership $24,900 (8,750)
Mr. Coleman, an unmarried individual, had the following income items: Interest income Ordinary loss from an S corporation Ordinary income from a partnership $24,900 (8,750) 66,000 He had $10,350 itemized deductions and no dependents. Compute Mr. Coleman's passthrough income is qualified business income under Section 199A. Compute Mr. Coleman's income tax. Assume the taxable year is 2018. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your answers to the nearest whole dollar amount.) AGI Taxable Income Income tax
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