Shirelle and Newman are each 50% partners of a business that operates as a partnership. The business reports the following results Revenue Business expenses Investment expenses Short-term capital gains Short-term capital losses $ 94,000 51,700 9,750 15,500 (22,100) Required: How do Shirelle and Newman report these items for tax purposes in the following schedules? Note: Negative amounts should be indicated by a minus sign. Amount Schedule A Schedule D Schedule E
Shirelle and Newman are each 50% partners of a business that operates as a partnership. The business reports the following results Revenue Business expenses Investment expenses Short-term capital gains Short-term capital losses $ 94,000 51,700 9,750 15,500 (22,100) Required: How do Shirelle and Newman report these items for tax purposes in the following schedules? Note: Negative amounts should be indicated by a minus sign. Amount Schedule A Schedule D Schedule E
Chapter21: Partnerships
Section: Chapter Questions
Problem 44P
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![Shirelle and Newman are each 50% partners of a business that operates as a partnership. The business reports the following results
Revenue
Business expenses
Investment expenses
Short-term capital gains
Short-term capital losses
$ 94,000
51,700
9,750
15,500
(22,100)
Required:
How do Shirelle and Newman report these items for tax purposes in the following schedules?
Note: Negative amounts should be indicated by a minus sign.
Amount
Schedule A
Schedule D
Schedule E](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb2248294-420f-4c6d-aa55-1415a7aa2153%2F773a0038-0d5e-4a9a-82b6-36bdb60811e9%2F216sfkm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Shirelle and Newman are each 50% partners of a business that operates as a partnership. The business reports the following results
Revenue
Business expenses
Investment expenses
Short-term capital gains
Short-term capital losses
$ 94,000
51,700
9,750
15,500
(22,100)
Required:
How do Shirelle and Newman report these items for tax purposes in the following schedules?
Note: Negative amounts should be indicated by a minus sign.
Amount
Schedule A
Schedule D
Schedule E
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