ABOVE ARE ANSWERS FOR A&B. I NEED HELP WITH FORM 1065 PAGE 1,2 AND 5 PLEASE FOR THE SECOND QUESTION

Required information [The following information applies to the questions displayed below.] Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $70,000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information: Required: a. Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the partnership. b. List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the partnership's first year of operations. d. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. Compute the adjusted basis of each partner's interest in the parharship immediately after the formation of the partnership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Required information List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individ tax returns that include the results of the partnership's first year of operations. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Negative am be entered with a minus sign. Leave no answers blank. Enter zero if applicable. tax returns that include the results of the partnership's first year of operations. d. What are the partners' adjusted basis in their partnership interests at the end of the first year of of Answer is complete and correct. Complete this question by entering your answers in the tabs below. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount Required information [The following information applies to the questions displayed below.] Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $70,000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information: c-1. Using the information generated in answering parts (a) and (b), prepare Blue Bell's page 1 and Schedule K to be included with its Form 1065 for its fir year of operations. Note: Visit the IRS website and download Form 1065 and Schedule K. Enter the required values in the appropriate fields. Save your completed Tox Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Form Department of the Treasury Internal Revenue Service J Check if Schedules C and M3 are attached K Check if partnership: (1) Aggregated activites tor Caution:Includeonlytradeorbusinessincomeandsection465at-riskpurposes(2)Groupedactivitiesforsection469passiveactivitypurposes Form 1065 (2022) Form 1065(2022) Analysis of Net Income (Loss) per Return Page 5 1 Net income (loss). Combine Schedule K, lines 1 through 11. From the result, subtract the sum of Schedule K, lines 12 through 13d, and 21 2 Analysis by partner type: a General partners b Limited partners (i) Corporate Schedule L 1 Cash 2a Trade notes and accounts receivable. b Less allowance for bad debts 3 Inventories 4 U.S. Government obligations 5 Tax-exempt securities 6 Other current assets (attach statement) 7a Loans to partners (or persons related to partners) b Mortgage and real estate loans 8 Other investments (attach statement). 9a Buildings and other depreciable assets b Less accumulated depreciation 10a Depletable assets b Less accumulated depletion 11 Land (net of any amortization) 12a Intangible assets (amortizable only) b Less accumulated amortization 13 Other assets (attach statement) 14 Total assets Liabilities and Capital 15 Accounts payable . 16 Mortgages, notes, bonds payable in less than 1 year 17 Other current liabilities (attach statement) 18 All nonrecourse loans . 19a Loans from partners (or persons related to partners). b Mortgages, notes, bonds payable in 1 year or more 20 Other liabilities (attach statement) 21 Partners' capital accounts 22 Total liabilities and capital Schedule M-1 Reconciliation of Income (Loss) per Books With Analysis of Net Income (Loss) per Return Note: The partnership may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books . 2 Income included on Schedule K, lines 1,2,3c, 5,6a,7,8,9a,10, and 11, not recorded on books this year (itemize): 3 Guaranteed payments (other than health \begin{tabular}{|l|} \hline \\ \hline \end{tabular} 6 Income recorded on books this year not included on Schedule K, lines 1 through 11 (itemize): a Tax-exempt interest $ 7 Deductions included on Schedule K. 7a Loans to partners (or persons related to partners) b Mortgage and real estate loans 8 Other investments (attach statement). 9a Buildings and other depreciable assets b Less accumulated depreciation Oa Depletable assets b Less accumulated depletion 11 Land (net of any amortization) ... b Less accumulated amortization 13 Other assets (attach statement) 14 Total assets . Liabilities and Capital 15 Accounts payable. Mortgages, notes, bonds payable in less than 1 year Other current liabilities (attach statement) All nonrecourse loans 18 All nonrecourse loans . ....... ... . . 19a Loans from partners (or persons related to partners). b Mortgages, notes, bonds payable in 1 year or more 20 Other liabilities (attach statement). Partners' capital accounts Total liabilities and capital \begin{tabular}{|l|l|l|l} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Schedule M-1 Reconciliation of Income (Loss) per Books With Analysis of Net Income (Loss) per Return Note: The partnership may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books . 2 Income included on Schedule K, lines 1,2,3c, 5,6a,7,8,9a,10, and 11 , not recorded on books this year (itemize): 3 Guaranteed payments (other than health insurance) . 4 Expenses recorded on books this year not included on Schedule K, lines 1 through 13d, and 21 (itemize): a Depreciation $ b Travel and entertainment $ 5 Add lines 1 through 4 6 Income recorded on books this year not included on Schedule K, lines 1 through 11 (itemize): a Tax-exempt interest $ 7 Deductions included on Schedule K, lines 1 through 13d, and 21, not charged against book income this year (itemize): a Depreciation $ 8 Add lines 6 and 7 9 Income (loss) (Analysis of Net Income (Loss), line 1). Subtract line 8 from line 5 Schedule M-2 Analysis of Partners' Capital Accounts Form 1065(2022) Required information [The following information applies to the questions displayed below.] Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $70,000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information: Required: a. Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the partnership. b. List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the partnership's first year of operations. d. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. Compute the adjusted basis of each partner's interest in the parharship immediately after the formation of the partnership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Required information List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individ tax returns that include the results of the partnership's first year of operations. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Negative am be entered with a minus sign. Leave no answers blank. Enter zero if applicable. tax returns that include the results of the partnership's first year of operations. d. What are the partners' adjusted basis in their partnership interests at the end of the first year of of Answer is complete and correct. Complete this question by entering your answers in the tabs below. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount Required information [The following information applies to the questions displayed below.] Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $70,000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information: c-1. Using the information generated in answering parts (a) and (b), prepare Blue Bell's page 1 and Schedule K to be included with its Form 1065 for its fir year of operations. Note: Visit the IRS website and download Form 1065 and Schedule K. Enter the required values in the appropriate fields. Save your completed Tox Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Form Department of the Treasury Internal Revenue Service J Check if Schedules C and M3 are attached K Check if partnership: (1) Aggregated activites tor Caution:Includeonlytradeorbusinessincomeandsection465at-riskpurposes(2)Groupedactivitiesforsection469passiveactivitypurposes Form 1065 (2022) Form 1065(2022) Analysis of Net Income (Loss) per Return Page 5 1 Net income (loss). Combine Schedule K, lines 1 through 11. From the result, subtract the sum of Schedule K, lines 12 through 13d, and 21 2 Analysis by partner type: a General partners b Limited partners (i) Corporate Schedule L 1 Cash 2a Trade notes and accounts receivable. b Less allowance for bad debts 3 Inventories 4 U.S. Government obligations 5 Tax-exempt securities 6 Other current assets (attach statement) 7a Loans to partners (or persons related to partners) b Mortgage and real estate loans 8 Other investments (attach statement). 9a Buildings and other depreciable assets b Less accumulated depreciation 10a Depletable assets b Less accumulated depletion 11 Land (net of any amortization) 12a Intangible assets (amortizable only) b Less accumulated amortization 13 Other assets (attach statement) 14 Total assets Liabilities and Capital 15 Accounts payable . 16 Mortgages, notes, bonds payable in less than 1 year 17 Other current liabilities (attach statement) 18 All nonrecourse loans . 19a Loans from partners (or persons related to partners). b Mortgages, notes, bonds payable in 1 year or more 20 Other liabilities (attach statement) 21 Partners' capital accounts 22 Total liabilities and capital Schedule M-1 Reconciliation of Income (Loss) per Books With Analysis of Net Income (Loss) per Return Note: The partnership may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books . 2 Income included on Schedule K, lines 1,2,3c, 5,6a,7,8,9a,10, and 11, not recorded on books this year (itemize): 3 Guaranteed payments (other than health \begin{tabular}{|l|} \hline \\ \hline \end{tabular} 6 Income recorded on books this year not included on Schedule K, lines 1 through 11 (itemize): a Tax-exempt interest $ 7 Deductions included on Schedule K. 7a Loans to partners (or persons related to partners) b Mortgage and real estate loans 8 Other investments (attach statement). 9a Buildings and other depreciable assets b Less accumulated depreciation Oa Depletable assets b Less accumulated depletion 11 Land (net of any amortization) ... b Less accumulated amortization 13 Other assets (attach statement) 14 Total assets . Liabilities and Capital 15 Accounts payable. Mortgages, notes, bonds payable in less than 1 year Other current liabilities (attach statement) All nonrecourse loans 18 All nonrecourse loans . ....... ... . . 19a Loans from partners (or persons related to partners). b Mortgages, notes, bonds payable in 1 year or more 20 Other liabilities (attach statement). Partners' capital accounts Total liabilities and capital \begin{tabular}{|l|l|l|l} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Schedule M-1 Reconciliation of Income (Loss) per Books With Analysis of Net Income (Loss) per Return Note: The partnership may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books . 2 Income included on Schedule K, lines 1,2,3c, 5,6a,7,8,9a,10, and 11 , not recorded on books this year (itemize): 3 Guaranteed payments (other than health insurance) . 4 Expenses recorded on books this year not included on Schedule K, lines 1 through 13d, and 21 (itemize): a Depreciation $ b Travel and entertainment $ 5 Add lines 1 through 4 6 Income recorded on books this year not included on Schedule K, lines 1 through 11 (itemize): a Tax-exempt interest $ 7 Deductions included on Schedule K, lines 1 through 13d, and 21, not charged against book income this year (itemize): a Depreciation $ 8 Add lines 6 and 7 9 Income (loss) (Analysis of Net Income (Loss), line 1). Subtract line 8 from line 5 Schedule M-2 Analysis of Partners' Capital Accounts Form 1065(2022)