Answer:
Schedule 1065 |
|||
Name of partnership |
Blue Bell |
||
I |
Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year |
I |
3 |
1a |
Gross receipts or sales: 1a. |
1a |
470,000 |
2 |
Cost of goods sold (attach for 1125-A) |
2 |
410,000 |
10 |
Guaranteed payments to partners |
10 |
3,000 |
20 |
Other deductions (attach statement) |
20 |
70,000 |
Schedule K |
|||
1 |
Ordinary business income (loss) (Page 1 line 22) |
1 |
(13,000) |
4 |
Guaranteed payments |
4 |
3,000 |
9a |
Net long term capital gain (loss) (attach Schedule D (Form 1065)) |
9a |
2,400 |
10 |
Net section 1231 gain (loss) (attach form 4797) |
10 |
900 |
13a |
Contribution |
13a |
300 |
14a |
Net earnings (loss) from self-employment |
14a |
(10,000) |
18a |
Tax-exempt interest income |
18a |
300 |
Schedule K-1 |
|||
1 |
Ordinary business income (loss) |
1 |
(4,333) |
4 |
Guaranteed payments |
4 |
3,000 |
B |
Partnership name, address, city, state and zip code |
B |
Bluebell |
D |
Check if this is publically trended partnership (PTP) |
D |
|
9a |
Net long term capital gain (loss) |
9a |
800 |
F |
Partner’s name address, city, state and zip code |
F |
Deanne |
10 |
Net section 1231 gain (loss) |
10 |
300 |
18 |
Tax exempt income and nondeductible expenses |
18 |
100 |
G |
General partner or LLC – Limited partner or other LLC |
G |
General Partner |
I1 |
What type of entity is this partner? |
I1 |
Individual |
J |
Partner’s share of profit, loss and capital gain (see instruction) |
||
Profit beginning------------------------------------------------------------------------------------- |
33.33% |
||
Profit ending----------------------------------------------------------------------------------------- |
33.33% |
||
Loss beginning---------------------------------------------------------------------------------------- |
33.33% |
||
Loss ending-------------------------------------------------------------------------------------------- |
33.33% |
||
Capital beginning------------------------------------------------------------------------------------- |
33.33% |
||
Capital ending----------------------------------------------------------------------------------------- |
33.33% |
||
13A |
Other deductions |
13A |
100 |
K |
Partner’s shares and liabilities |
||
Nonrecourse beginning----------------------------------------------------------------------------- |
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Nonrecourse ending--------------------------------------------------------------------------------- |
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Qualified Nonrecourse financing beginning--------------------------------------------------- |
|||
Qualified Nonrecourse financing ending------------------------------------------------------- |
21,000 |
||
Recourse beginning---------------------------------------------------------------------------------- |
|||
Recourse ending-------------------------------------------------------------------------------------- |
|||
14A |
Self-employment earnings (loss) |
14A |
(1,333) |
L |
Partner’s capital account analysis |
||
Beginning capital account |
110,000 |
||
Current year increase (decrease) |
(3,233) |
||
Tax basis |
Check(select) |
||
M |
Did the partner contribute property with a built-in gain or loss? |
M |
No |
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