From: Alan Dlugash

From: Alan Dlugash To: "Jeffrey E." <[email protected]> Cc: Richard Kahn Subject: Re: questions re leons return ? ? Date: Tue, 18 Apr 2017 02:44:32 +0000 Medicare tax is just the unlimited portion of the self-employment tax, based on the same self-employment income. But you are correct that limited partners income is not self-employment income, so I would think that LDB would not have much. It is clear that the schedule is of Obamacare tax (Net Investment Income Tax or NIIT) not Medicare tax. See my explanation in my last email. As an NIIT calculation it looks fine, though I certainly do not have the details to verify the numbers. Also, though the method of apportioning expenses between the Net investment income vs the other income included in AGI seems reasonable, I might want to talk with Joslin as to whether there might be a more advantageous way to do the allocation. Alan On Mon, Apr 17, 2017 at 10:02 PM, jeffrey E. <jeevacation®gmail.com> wrote: Richard Joslin 8:37 PM (1 hour ago) to me SE tax? Do you mean Medicare tax. LDB does not pay SE tax. His income is exempt given that it is earned via limited partnership interest. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved Alan J. Dlugash EFTA00653072 Alan J. Dlugash LLC 767 Third Avenue - 36th Floor New York, NY 10017 Cel EFTA00653073