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Rochelle is a partner in Megawatt Partnersthip. For 2018, her schedule K-1 from the partnership reported the following share of partnership items. 23 Ordinary income
Rochelle is a partner in Megawatt Partnersthip. For 2018, her schedule K-1 from the partnership reported the following share of partnership items. 23 Ordinary income Section 1231 loss $40,800 (5,200) Nondeductible expense Cash distribution 4 1,350 5,550 points 01:44:23 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 eBook Complete this question by entering your answers in the tabs below. Required A Required B Calculate the net impact of the given items on Rochelle's 2018 taxable income the Section 199A deduction e. Assume that Rochelle does not qualify for Net impact on taxable income Required A Required B
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