I need step by step for the following question below. Carolyn has a 50 percent...
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Accounting
I need step by step for the following question below.
Carolyn has a 50 percent interest in a general partnership that has a $14,000 loss for the year. She materially participates in the partnership. Her basis in the partnership is $10,000. She also has salary from other employment of $46,000. If she is single, has no dependents, and claims the standard deduction, what are her taxable income and tax liability in 2018?
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