FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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2022 tax rules
the
4. Partnership Activities. (Obj. 2) Indicate how each of the following items is reported on
partnership tax return by placing a check mark in the appropriate column.
Separately Stated
Ordinary Income
Item
a. Rent received from rental property
b. Short-term loss on the sale of a capital asset
c. Dividends received from a U.S. corporation
d. Contribution to the Red Cross
e. Guaranteed payments to partners
f. Section 179 expense
g. Interest expense on a business loan
h. Annual business license
i. Interest income from a municipal bond
j. Property taxes on partnership assets
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Transcribed Image Text:the 4. Partnership Activities. (Obj. 2) Indicate how each of the following items is reported on partnership tax return by placing a check mark in the appropriate column. Separately Stated Ordinary Income Item a. Rent received from rental property b. Short-term loss on the sale of a capital asset c. Dividends received from a U.S. corporation d. Contribution to the Red Cross e. Guaranteed payments to partners f. Section 179 expense g. Interest expense on a business loan h. Annual business license i. Interest income from a municipal bond j. Property taxes on partnership assets
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