Net income from sole proprietorship
Sam has $80,000 of net income from his sole proprietorship. What is his deduction for AGI for self-employment taxes?
1. $12,240
2. $11,304
3. $6,120
4. $5,652
5. None of the above.
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John has a 20% stake in the Partnership and receives no distributions from the partnership during the year. He has a $55,000 basis in her partnership interest at the end of the year after all income/loss items have been passed through to her.
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What is the intercept value on the Price axis? At what value does the curve cross the Quantity axis? What is the Total Revenue function?
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