PLEASE HELP A&B If you do not know how to complete the table please leave it for someone who does. thank you. Required information Complete this question by entering your answers in the tabs below.
Required A
Required A
Compute Gary's share of separately stated items to be reported on his year Schedule K including his selfemployment income loss
Note: Round your intermediate computations and final answers to the nearest whole dollar amount.
tableDescriptiontableTotalAmounttableAllocatedto GarySeparately Stated Items on Schedule K:Selfemployment income,$ gains,$ Cash charitable contributions,,$ Municipal bond interest,,$
The following information applies to the questions displayed below.
The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $
and that Gary and Prudence will share the remaining profits or losses in a ratio. For year the G&P partnership
reports the following results:
Note: Negative amounts should be indicated by a minus sign.
Required:
How much ordinary income loss is allocated to Gary for the year?
Compute Gary's share of separately stated items to be reported on his year Schedule K including his selfemployment income
loss