The CAT Partnership earned ordinary income of $144,000 in 2019. The partnership has three equal​ partners, Carl​, Allen​, and Tom. Tom​, who is​ single, uses the standard​ deduction, and has other income of $20,000 ​(not connected with the​ partnership) in 2019. He receives a $33,000 distribution from the partnership during the year. What is Tom’s taxable income in 2019​?

The CAT Partnership earned ordinary income of $144,000 in 2019. The partnership has three equal​ partners, Carl​, Allen​, and Tom. Tom​, who is​ single, uses the standard​ deduction, and has other income of $20,000 ​(not connected with the​ partnership) in 2019. He receives a $33,000 distribution from the partnership during the year. What is Tom’s taxable income in

2019​?

​(If an input field is not​ used, leave the input​ field(s) empty. Do not select a label or enter a zero. Assume that the partnership is not eligible for the QBI​ deduction.)

 
 
 
 
 
 
 
 
Adjusted gross income (AGI)
 
Minus:
Deductions from AGI:
 
 
 
 
 
 
 
Tom’s taxable income
 
 
Choose from any list or enter any number in the input fields and then click Check Answer.

 

 
All parts showing
 
 
Clear All
Check Answer

 

 
 
Reference
STANDARD DEDUCTION

Filing Status
Married individuals filing joint returns and surviving spouses
$24,400
Heads of households
$18,350
Unmarried individuals (other than surviving spouses and heads of households)
$12,200
Married individuals filing separate returns
$12,200
Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses
$1,300*
Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse
$1,650*
Taxpayer claimed as dependent on another taxpayer’s return: Greater of (1) earned income plus $350 or (2) $1,100.
 
* These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind.
 
Personal and Dependency Exemptions​ Suspended:  In conjunction with the increased standard deduction​ amount, the Tax Cuts and Jobs Act reduces the personal exemption amount to​ $0 for tax years from 2018 through​ 2025, effectively suspending the exemptions for these years.
Tired of numerous paper assignments?
Rely on us and receive professional paper writing assistance!
Professional paper Writing Assistance

Who We Are

We are a professional website for customized writing. If you searched a question and stumbled into our website, you are in the right place to receive assistance with your coursework.

Do you handle any type of coursework?

Yes. We have displayed prior orders to demonstrate our experience. We can answer this question for you as we have previously. Please fill out our Order Form so that we may ensure its flawlessness. Correctly completing the order form will help our staff with reference, requirements, and future communication.

Is it hard to Place an Order?

  1. Click on the “Order Now” tab at the top menu or “GET A FREE QUOTE” icon at the bottom and a new page will appear with an order form to be filled
  2. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process. Submit detailed paper instructions, upload necessary files if needed and provide your contact information – you are almost done!
  3. Proceed with the payment- click on “PROCEED TO CHECKOUT” at the bottom of the page. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it. All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.
  4. Delivery- Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it.