Carolyn has a 50 percent interest in a partnership that has a $14,000 loss for the year.
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Carolyn has a 50 percent interest in a partnership that has a $14,000 loss for the year. She actively participates in the partnership, but she also has salary from other employment of $46,000. If she is single with no dependents, what is her taxable income in 2007 and what is her tax liability?
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Related Book For
Taxation For Decision Makers 2008
ISBN: 9780324654110
2nd Edition
Authors: Shirley Dennis-Escoffier, Karen A. Fortin
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