Business, 18.08.2020 23:01 ramzieboy13
Kim received a 1/3 profits and capital interest in Bright Line, LLC in exchange for legal services she provided. In addition to her share of partnership profits or losses, she receives a $34,000 guaranteed payment each year for ongoing services she provides to the LLC. For X4, Bright Line reported the following revenues and expenses: Sales - $154,000, Cost of Goods Sold - $94,000, Depreciation Expense - $50,000, Long-Term Capital Gains - $19,000, Qualified Dividends - $6,400, and Municipal Bond Interest - $3,400. How much ordinary business income (loss) will Bright Line allocate to Kim on her Schedule K-1 for X4?
a) ($24,000).
b) $200.
c) $3,600.
d) $10,000.
None of the choices will be reported as ordinary business income (loss) on Schedule K-1.
Answers: 1
Business, 22.06.2019 13:50
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Bob, an employee at machina corp., is well known among his colleagues because of his temper and impatience. during a heated argument with one of his supervisors, he reacts with hostility. bob's manager calls him in for a discussion and listens to what he has to say about the incident, while treating him with dignity and respect. this scenario can be best categorized as one that used
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Business, 23.06.2019 02:30
Drag the tiles to the correct boxes to complete the pairs. match the scenarios with terms related to financial aid. entrance counseling fafsa financial need megan is planning to pursue an undergraduate degree in chemistry. but since her father lost his job five years ago, the family had been unable to save up enough for megan's education. arrowright kunal recently learned that he is going to receive a student loan. now he needs to attend a session in which he will learn the how the loan process works, as well as his responsibilities as a borrower. arrowright josie created an fsa id and completed a long application form online. the form asked for a lot of financial details about josie and her family. arrowright
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Kim received a 1/3 profits and capital interest in Bright Line, LLC in exchange for legal services s...
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