Jamie's only source of income is $40,000,000 of income from a partnership in which she materially participates

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Jamie's only source of income is $40,000,000 of income from a partnership in which she materially participates in. She is single and her only itemized deduction is the $600,000 in property taxes she pays on her $45,000,000 principal residence located in Texas where she lives. What is her taxable income?

Posted Date: Nov 26, 2021 04:31 PM

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Jamie's only source of income is $40,000,000 of income from a partnership in which she materially participates

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