Calculate the net impact of the given items

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Reference no: EM133500751

Question: Rochelle is a limited partner in Megawatt Partnership. For 2022, her schedule K-1 from the partnership reported the following share of partnership items:

Ordinary income $ 26,400
Section 1231 loss (3,500)
Nondeductible expense 1,305
Cash distribution 5,100

Required:

Calculate the net impact of the given items on Rochelle's 2022 taxable income. Assume that Rochelle does not qualify for the QBI deduction.
Assume that Rochelle's marginal tax rate is 35 percent. Calculate her 2022 after-tax cash flow as a result of her interest in Megawatt.

Reference no: EM133500751

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