Janie owns a 40% interest in Chang Partnership. Chang has W-2 wages of $50,000 and qualified property
Question:
Janie owns a 40% interest in Chang Partnership. Chang has W-2 wages of $50,000 and qualified property of $450,000 in 2018.
a. When computing the W-2 wages limitation, what is the amount of wages that will be allocated to Janie?
b. What is the amount of qualified property that will be allocated to Janie?
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Related Book For 
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
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