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Check my work 10 Required information [The following information applies to the questions displayed below.) 10 points Skipped Georgio owns a 30 percent profits and
Check my work 10 Required information [The following information applies to the questions displayed below.) 10 points Skipped 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: eBook Sales revenue $ 79,250 Gain on sale of land ($1231) 17,600 Cost of goods sold (43,250) Depreciation-MACRS (7,750) $179 deduction* (16,300) Employee wages (19,400) Nondeductible fines and penalties (3,400) Municipal bond interest 7,900 Short-term capital gains 5,750 Guaranteed payment to Sandra (5,200) *Assume the $179 property placed in service limitation does not apply. Print References 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
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