Which one of the following is not shown on a partnership’s Schedule K on Page 4...

Which one of the following is not shown on a partnership’s Schedule K on Page 4 of Form 1065?

a. The partnership’s self-employment income.

b. The partnership’s separately stated items of income and deduction.

c. The partnership’s alternative minimum tax preference and adjustment items.

d. The partnership’s net operating loss carryforward.

e. The partnership’s portfolio income.

Expert Solution

Answer is:

d. The partnership’s net operating loss carryforward.

Form 1065 page 4 is below:

ekkarill92 answered 2 years ago

Which one of the following is not reported by the partnership? a. The partnership’s ordinary income....

Which one of the following is not reported by the partnership? a. The partnership’s ordinary income. b. The partnership’s separately stated income and deductions. c. The partnership’s tax preference and adjustment items. d. The partnership’s net operating loss carryforward. e. All of the above.

Which of the following debts can be deducted on form 706, Schedule K? Indebtedness secured by...

Which of the following debts can be deducted on form 706, Schedule K? Indebtedness secured by a mortgage on property of the gross estate, or Unenforcible gambling debts, or loans on a life insurance policy owned by the decedent, or a promissory note for stock in a car dealership.

Which of the following debts CANNNOT be deducted on Firm 706, Schedule K? Indebtedness secured by...

Which of the following debts CANNNOT be deducted on Firm 706, Schedule K? Indebtedness secured by a mortgage on property that is part of the gross estate Unenforcable gambling debts Loans on a life insurance policy owned by the decedent A promissory note for stock in a car dealership

Which of the following debts cannot be deducted on Form 706, Schedule K Indebtedness secured by...

Which of the following debts cannot be deducted on Form 706, Schedule K Indebtedness secured by a mortgage on property that is part of the gross estate Unenforceable gambling debts loans on a life insurance policy owned by the decedent a promissory note for stock in a car dealership

23. Which one of the following items is the last schedule to be prepared in the normal

23. Which one of the following items is the last schedule to be prepared in the normal budget preparation process? a. Selling and Administrative Expense budget. b. Cost of goods sold budget. c. Manufacturing overhead budget. d. Cash Budget. 24. Which one of the following organizational policies is most likely to result in undesirable managerial behavior? a. Joe Walk, the chief executive officer of Eagle Rock Brewery, wrote a memorandum to his executives stating, "Operating plans are contracts, and they should be met without fail." b. The budgeting process at Madsen...

Tax Return #2, Partnership Return (Form 1065, only Page 1 and Schedule K required) Background The...

Tax Return #2, Partnership Return (Form 1065, only Page 1 and Schedule K required) Background The Rowdy Fun is a limited partnership and was formed on June 1, 2005, by Thomas Kyle, its general partner, and two other limited partners when they each contributed an equal amount of cash to start the new enterprise. Rowdy Fun is an outdoor equipment retailer focused on selling outdoor activities gear. Thomas has a 33.33% profits and capital interest and the limited partners hold...

Please answer in the following form: (1) 1040, (2) Schedule 1, (3) Schedule 2, (4) Schedule...

Please answer in the following form: (1) 1040, (2) Schedule 1, (3) Schedule 2, (4) Schedule A, (5) Schedule C page 1, (6) explanation (including calculation) for each line item on each form and schedule. Thank you. Janice Morgan, age 24, is single and has no dependents. Janice works as an employee from Worldwide Publishing and also as a freelance writer. In January 2019, Janice opened her own office located at 2751 Waldham Road, Pleasant Hill, NM 88135. She called...

Which of the following statements about Na+ -K+ pump is incorrect? Select one: A. The Na+...

Which of the following statements about Na+ -K+ pump is incorrect? Select one: A. The Na+ -K+ pump is an antiport that moves the ions against their concertation gradient. B. The Na+ -K+ pump is an example of secondary active transport. C. The Na+ -K+ pumps potassium against its concentration gradient. D. The Na+ -K+ pump moves Na+ out of the cell and K+ inside the cell. E. The Na+ -K+ pumps sodium against its concentration gradient. In general, transport...

On December 31, 2014, LBM Partnership’s accounts show the following. Answer the following questions under the...

On December 31, 2014, LBM Partnership’s accounts show the following. Answer the following questions under the different scenarios. Partner Drawings Capital Lisa $23,000 $48,000 Bart 14,000 30,000 Maggie 10,000 25,000 Scenario1: Net income for the year is $30,000. Income is shared 60% to Lisa, 30% to Bart, and 10% to Maggie. How much is each partner’s share of the income? Lisa Bart Maggie Scenario 2: Net income was $60,000 for the year. Lisa and Bart are each given a $15,000...

Gross receipts on Schedule C can include which of the following? Select one: a. Cash or checks received

Gross receipts on Schedule C can include which of the following?Select one:a. Cash or checks receivedb. Form 1099-NECc. Form 1099-Kd. All of thesee. None of these

Question