Michael received a Schedule K-1 from Omega Partnership reflecting a $25,000 share of ordinary income and an

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Michael received a Schedule K-1 from Omega Partnership reflecting a $25,000 share of ordinary income and an $18,500 cash distribution. As a result of his ownership of Omega, Michael's taxable income will increase by $ . Assume Michael does not qualify for any QBI deduction

Posted Date: May 18, 2024 11:14 PM

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Michael received a Schedule K-1 from Omega Partnership reflecting a $25,000 share of ordinary income and an

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