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ANSWER ALL QUESTIONS RELATED TO THE PROBLEM TO FULLY SOLVE!! Georgio owns a 30 percent profits and capital interest in Rain Tree LLC. For the

ANSWER ALL QUESTIONS RELATED TO THE PROBLEM TO FULLY SOLVE!!

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Georgio owns a 30 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses: Sales revenue Gain on sale of land ($1231) Cost of goods sold Depreciation-MACRS $179 deduction* Employee wages Nondeductible fines and penalties Municipal bond interest Short-term capital gains Guaranteed payment to Sandra $ 82,750 $ 18,400 $(49, 250) $ (5,950) $(18,900) $(12,300) $ (3,200) $ 6,500 $ 5,100 $ (3,950) *Assume the $179 property placed in service limitation does not apply. a. How much ordinary business income (loss) is allocated to Georgio for the year? Description Total Amount Allocated to Georgio Sales Revenue Ordinary Business Income b. What are Georgio's separately stated items for the year? Description Total Amount Allocated to Georgio Separately Stated Items on Schedule K-1

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