Charles is a 60% partner in CD Partnership, a calendar year partnership. For 2019, Charles received.


Charles is a 60% confederate in CD Partnership, a enlist year partnership. For 2019, Charles current a Schedule K-1 that reputed his share of confederateship items as follows:

In adduction, Charles and his consort, Charlene, had the aftercited items relating to activities beyond the confederateship:

Charles and Charlene own two hanging children, ages 7 and 9, and improve a flexure tax repay. Calculate the aftercited items for Charles and Char lene. (Ignore the abatement for one-half of self-employment tax.)

a. Adjusted indelicate proceeds (AGI)

b. Taxable proceeds

c. Tax amenability

d. Taxes due or refund