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Exploring key 2024 tax bill proposals

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Webinar How to utilize generative AI to excel your tax and accounting services Learn how GenAI can help you create new insights, solutions, and opportunities for yourself and your clients. This means that any gains from such transactions would be subject to ordinary income tax rates rather than the lower capital gains tax rates.

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What is Schedule K-1?

ThomsonReuters

K-1s are sometimes confused with Form 1099s, which are tax information documents for individuals who are not employees, like sole proprietors and freelancers. K-1s, however, are quite different and can come with some complexities for tax and accounting firms. from the partnership for the tax year.