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Business, 05.09.2019 19:30, pacpac1172
Amit is a partner in reynolds partnership. this year, amit's schedule k-1 from reynolds reflected $50,000 of ordinary income, $1,000 of interest income, and a cash distribution of $35,000. amit's marginal tax rate is 39.6%.(a) calculate the tax cost of amit's partnership earning this year. (b) calculate amit's after-tax cash flow from his partnership activity this year.
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Amit is a partner in reynolds partnership. this year, amit's schedule k-1 from reynolds reflected $5...
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