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What is the amount of qualified property

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Reference no: EM132703047

Problem - Janie owns a 40% interest in Chang Partnership. Chang has W-2 wages of $50,000 and qualified property of $450,000 in 2018.

Required -

a. When computing the W-2 wages limitation, what is the amount of wages that will be allocated to Janie?

b. What is the amount of qualified property that will be allocated to Janie?

Reference no: EM132703047

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