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During the current year, MAC Partnership reported the following items of receipts and expenditures: Sales $600,000 Utilities and rent 80,000 Salaries to employees 200,000 Guaranteed
During the current year, MAC Partnership reported the following items of receipts and expenditures:
Sales $600,000
Utilities and rent 80,000
Salaries to employees 200,000
Guaranteed payment to partner Antonio 20,000
interest income 10,000
Long term capital gains 40,000
Distribution to partner Carl 30,000
Antonio is a 25% general partner.
a. Based on this information, what items will be reflected on Antonios Schedule K-1
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