Mr. and Mrs. Berry are equal partners in a family partnership. Mr. and Mrs. Berry's marginal tax rate is 35%. Next year,

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Mr And Mrs Berry Are Equal Partners In A Family Partnership Mr And Mrs Berry S Marginal Tax Rate Is 35 Next Year 1 (51.79 KiB) Viewed 66 times

Mr. and Mrs. Berry are equal partners in a family partnership. Mr. and Mrs. Berry's marginal tax rate is 35%. Next year, the partnership is expected to generate $800,000 of ordinary income. The Berry's are considering transferring 20% interests in the partnership to each of their two children. Their daughter, Straw, has a 12% marginal tax rate. Their son, Rasp, has a 22% marginal tax rate. Calculate the expected annual tax savings to the family from the proposed transfer of partnership interests. O $64,000 O $112,000 $57,600 O $56,000