Bryan and Eva are equal partners in BE Partnership. The partnership reports the following items of income and expense: Ordinary income from operations $13,000 Interest income 5,000 Long-term capital gains 23,000 § 179 expense 55,000 Charitable contributions 3,000 Which of these items are considered separately stated items? On what form will these items be reported to the partners? Where will these amounts be reported by the partners?
Bryan and Eva are equal partners in BE Partnership. The partnership reports the following items of income and expense: Ordinary income from operations $13,000 Interest income 5,000 Long-term capital gains 23,000 § 179 expense 55,000 Charitable contributions 3,000 Which of these items are considered separately stated items? On what form will these items be reported to the partners? Where will these amounts be reported by the partners?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bryan and Eva are equal partners in BE Partnership. The partnership reports the following items of income and expense:
| Ordinary income from operations | $13,000 |
| Interest income | 5,000 |
| Long-term |
23,000 |
| § 179 expense | 55,000 |
| Charitable contributions | 3,000 |
-
Which of these items are considered separately stated items? On what form will these items be reported to the partners?
-
Where will these amounts be reported by the partners?
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