The Coop Partnership has two members, John and Jill Walther, who share all income on a 60:40 basis. Neither partner has Taxable Income that will be taxed federally at 33 percent.
During the year ending December 31, 2020, accounting income has been computed as $346,000. This accounting figure includes the following items: The partners have made no charitable donations or political contributions as individuals.
Determine the amount of any tax credits that will be allocated to John and Jill Walther for the year ending December 31, 2020.

Question

The Coop Partnership has two members, John and Jill Walther, who share all income on a 60:40 basis. Neither partner has Taxable Income that will be taxed federally at 33 percent.
During the year ending December 31, 2020, accounting income has been computed as $346,000. This accounting figure includes the following items:  The partners have made no charitable donations or political contributions as individuals.
Determine the amount of any tax credits that will be allocated to John and Jill Walther for the year ending December 31, 2020.

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The Answer of The Coop Partnership has two members, John and Jill Walther, who share all income on a 60:40 basis. Neither partner has Taxable Income that will be taxed federally at 33 percent.
During the year ending December 31, 2020, accounting income has been computed as $346,000. This accounting figure includes the following items:  The partners have made no charitable donations or political contributions as individuals.
Determine the amount of any tax credits that will be allocated to John and Jill Walther for the year ending December 31, 2020.

The Coop Partnership Has Two Members, John and Jill Walther