Question

Rochelle is a partner in Megawatt Partnership. For 2015, her schedule K-1 from the partnership reported the following share of partnership items:
Ordinary income ………………………… $25,000
Section 1231 loss ………………………… (3,000)
Nondeductible expense ………………… 1,000
Cash distribution ………………………… 5,000
a. Calculate the net impact of the above items on Rochelle’s 2015 taxable income.
b. Assume that Rochelle’s marginal tax rate is 35 percent. Calculate her 2015 after-tax cash flow as a result of her interest in Megawatt.


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  • CreatedNovember 03, 2015
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