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If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

There are 4 K-1 forms, 2 with a loss and 2 with a gain. Entering each form causes the tax calculation to change by 44-46% of the reported profit or loss. Is this right?
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If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

That depends upon your marginal tax bracket, and whether the income is also subject to approx 15% Self Employment taxes. Any increase in income can also lower deductions/credits.

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7 Replies

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

That depends upon your marginal tax bracket, and whether the income is also subject to approx 15% Self Employment taxes. Any increase in income can also lower deductions/credits.

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

My taxable income went from $550,000 to $565,000. Does that put me in the highest bracket?

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

That's the 39.6% Federal bracket for 2017, plus the 0.9% Medicare surtax, plus the 3.8% Net Investment Income Tax.

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

Although it is my 2016 tax I am calculating I guess the numbers are the same.

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

If I add $15920 of partnership and S-Corp rental income should my tax increase by $7360, 45%?

Thank you very much for your answers and guidance.
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