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2 D Required information The folowing on applies to the questions displayed below) Aaron, Deamne, and Keon formed the Blue Bell General Partnership at
2 D Required information The folowing on applies to the questions displayed below) Aaron, Deamne, and Keon formed the Blue Bell General Partnership at the beginning of the current year Aaron and Denne each couted $115,000 and Keon transferred an acre of undeveloped land to the partnership. The land had a tax bass of $65,000 and was appraised at $100,000. The land was also encumbered with a $65,000 noncecourse mortgage for which no one was personally lable. All three partners agreed to spit profits and losses equally At the end of the first year Blue Bell made a $6,900 principal payment on the mortgage For the first year of operations, the partnersho reconds disclosed the towing information ef. Using the information generated in answering parts and prepare Blue Bet's page 1 and Schedule K to be included with its Form 1005 for its first year of operations Visit the IRS website and download Form 1065 and Schedule K. Enter the required values in the appropriate fields. Save your completed Tax Form to your computer and then upload it here by clicking
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