19 Part 1 of 2 Required information The following information applies to the questions displayed below Georgio owns a 20 percent profits and capital interest in Rain Tree LLC For the current year, Rain Tree had the following revenues, expenses, gains, and losses: 036 ponts Sales revenue 5 73,500 Gain on sale of land (61231) 11,800 Cost of goods sold (28,250) Depreciation MARS (3,550) 5179 deduction (12, 100) Employee wages (17,200) liondeductible fines and penalties (5,000) Municipal bond interest 6,900 Short-term capital gains 6,350 Guaranteed payment to Sandra (3,500) *Assume the 5179 property placed in service limitation does not apply 2. How much ordinary business income foss) is allocated to Georgio for the year? Answer is not complete. Description Allocated to George Sales revenue Guaranteed payments Cost of goods sold Depreciation MARS Employee wiges Guaranteed payments Guaranteed payments Oy Husness Ince Total Amount $ 73.500 11.800 28.260 3.550 17.200 3.000 20 Required information The following information applies to the questions displayed below Part 2 of 2 Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses 036 points Sales revence $ 73,500 Gain on sale of land (51231) 11,800 Cost of goods sold (28,250) Depreciation-CRS (3,550) 5179 deduction (12,100) Employee wages (17,200) Mondeductible fines and penalties (5,000) Municipal bond interest 6,900 Short term capital gains 6,350 Guaranteed payment to Sandra (3,600) "Assume the $179 property placed in service limitation does not apply b. What are Georgio's separately stated items for the year? Answer is not complete. Description Total Amount Allocated to Georgia 11,800 $ s Separately Started Items on Schedule 1 $1231 gains $179 deduction Short term capital gains Municipal bond interest Nordeductibles and penalties 5 28 250 6,350 6,000 21 Part 1013 036 points Required information 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 or $18,500, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio For year 1, the G&P partnership reports the following results Sales revenue 5.77.700 Goin on sale of land (62231) 7,800 Cost of woods sold (46,000) Depreciation MAERS (11,800 Employee wages (12,900) Cash charitable contributions (4,100 Municipal bond interest 5,200 Other expenses (5,400) (Negative amounts should be indicated by a minus sign.) --1. How much ordinary income (loss) is allocated to Gary for the year? -2. Compute Gary's share of separately stated items to be reported on his year 1 Schedule K1, including his self-employment income (los) Answer is not complete Complete this question by entering your answers in the tabs below. Rea Reg AZ How much ordinary income (loss) is allocated to Gary for the year? (Round your intermediate computations to the nearest whole dollar amount) Ordinary como loss (1,000) 1 Req A2 > 21 Part 13 Required information 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 518,500, and that Gary and Prudence will share the remaining profits or losses in o 45/55 ratio For year 1. the G&P partnership reports the following results 0 36 points Sales revenue 5.77,700 Gain on sale of land 61231) 7,800 Cost of goods sold (46,000) Depreciation MARS (11,800 Employee wages (12,900 Cash Charitable contributions (4,300 Municipal bond interest 5,200 Other expenses (5,400) (Negative amounts should be indicated by a minus sign.) 0-1. How much ordinary income (loss) is allocated to Gary for the year? 0-2 Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self-employment income foss) Answer is not complete Complete this question by entering your answers in the tabs below. Beg A1 Real Compute Gary's share of separately stated items to be reported on his year 1 Scredule K-1, induding his self employment income (loss) (Round your intermediate computations and final answers to the nearest whole dollar amount.) Description Total Amount Allocated to Gary Separately stated items on Schedule 1 51231 am Cash charitate contributions Guaranteed payment Municipal bond interest Self employment income $ 7.000 14.300) 18,500 5 200 1.000 Req A1