Nick Jones, a 30-year-old single taxpayer, is involved in three partnerships; one as a general partner and two as a limited partner (Schedule K-1s provided in Canvas Files). Nick has no other source of income during the current year, and he does not itemize deductions. The current year single standard deduction is $12,400. The current year social security wage base is $137,700.For purposes of this exercise, ignore the Section 199A qualified business income (QBI) deduction. Using the information provided, prepare the taxable income portion of Nick's current year Form 1040, U.S. Individual Income Tax Return, and Nick's current year Schedule 1 (Form 1040) Additional Income and Adjustments to Income (PDFs provided).

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