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Rochelle is a partner in Megawatt Partnership. For 2018, her schedule K-1 from the partnership reported the following share of partnership items. Ordinary income Section
Rochelle is a partner in Megawatt Partnership. For 2018, her schedule K-1 from the partnership reported the following share of partnership items. Ordinary income Section 1231 loss $52,400 (3,200) 1,710 5,850 Nondeductible expense Cash distribution a. Calculate the net impact of the given items on Rochelle's 2018 taxable income. Assume that Rochelle does not qualify for the Section 199A deduction. b. Assume that Rochelle's marginal tax rate is 35 percent. Calculate her 2018 after-tax cash flow as a result of her interest in Megawatt. Complete this question by entering your answers in the tabs below. Required B Required A Calculate the net impact of the given items on Rochelle's 2018 taxable income. Assume that Rochelle does not qualify for the Section 199A deduction Net impact on taxable income > RequiredA Required B Complete this question by entering your answers in the tabs below. Required A Required B Assume that Rochelle's marginal tax rate is 35 percent. Calculate her 2018 after-tax cash flow as a result of her interest in Megawatt. (Cash outflows should be indicated by a minus sign.) After-tax cash flow Required A Required B >
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