The SON Partnership earned ordinary income of $135,000 in 2021. The partnership has three equal partners, Seth, Oliver, and Nolan. Nolan, who is single, uses the standard deduct and has other income of $19,000 (not connected with the partnership) in 2021. He receives a $31,000 distribution from the partnership during the year. What is Nolan's taxable income 2021? (If an input field is not used, leave the input field(s) empty. Do not select a label or enter a zero. Assume that the partnership is not eligible for the QBI deduction.) (Click the icon to view the standard deduction amounts.) ~
The SON Partnership earned ordinary income of $135,000 in 2021. The partnership has three equal partners, Seth, Oliver, and Nolan. Nolan, who is single, uses the standard deduct and has other income of $19,000 (not connected with the partnership) in 2021. He receives a $31,000 distribution from the partnership during the year. What is Nolan's taxable income 2021? (If an input field is not used, leave the input field(s) empty. Do not select a label or enter a zero. Assume that the partnership is not eligible for the QBI deduction.) (Click the icon to view the standard deduction amounts.) ~
Chapter20: Corporations And Partnerships
Section: Chapter Questions
Problem 6CPA
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