FORM 1065 U.S. RETURN OF PARTNERSHIP INCoME dividuals are engaged in business as partners under che firm name of Bil Products. The address of de parmership is 131 Mill St 60600. The Partners are George A. Motgan, Ta9 N. Code Drive nois 60600, and Malcolm William, 58 Forest Drive, Chicago, nois 60600. Waiams demorer all his time to che parreership. Mor who is also the tas atters partner, devotes one-fourth of his time, but his capital account is rger, Ak the beginning of the 2016 ax year it $63,674 Williams' $23,674, The partners share a ncome and lasses equally affer guaranceed payments and interest on Morgan's oncess capital investme During 2016, Mr. Williams cal tzibuued land to the paruncaship worth $120,000, for which he had an adjustod banis of s70,000. The parumors have agrond that Mr. Wiliams will be taxed on the first $50,000 of gain if the land is sold Mr. Morgan contributed s120,000 in the partnership during 2016 The partnership has no nonrecourse loan. The partnership en de calendar yer accrual basis. It was formed on January 2. 1987. It is engaged in che facture of toys. Thepart- hips buri ness code number is 339900. Mt Morgan and Mr Wlliams are boch general partnerstand then re not related. The purunership amployod Robert A Landons,1212 Lenix, ahlcapo, 60600, to prepare is return, which is filed on April 2017 The idencificadon number is P00330124, The partnership employer identifica ber is 2 825343 Mr. Morgan's social security num 360-92-1501, and M. Williams' number is 364-02-752. All applicable Porm() 1099 werefiled for 2016. FORM 1065 U.S. RETURN OF PARTNERSHIP INCoME dividuals are engaged in business as partners under che firm name of Bil Products. The address of de parmership is 131 Mill St 60600. The Partners are George A. Motgan, Ta9 N. Code Drive nois 60600, and Malcolm William, 58 Forest Drive, Chicago, nois 60600. Waiams demorer all his time to che parreership. Mor who is also the tas atters partner, devotes one-fourth of his time, but his capital account is rger, Ak the beginning of the 2016 ax year it $63,674 Williams' $23,674, The partners share a ncome and lasses equally affer guaranceed payments and interest on Morgan's oncess capital investme During 2016, Mr. Williams cal tzibuued land to the paruncaship worth $120,000, for which he had an adjustod banis of s70,000. The parumors have agrond that Mr. Wiliams will be taxed on the first $50,000 of gain if the land is sold Mr. Morgan contributed s120,000 in the partnership during 2016 The partnership has no nonrecourse loan. The partnership en de calendar yer accrual basis. It was formed on January 2. 1987. It is engaged in che facture of toys. Thepart- hips buri ness code number is 339900. Mt Morgan and Mr Wlliams are boch general partnerstand then re not related. The purunership amployod Robert A Landons,1212 Lenix, ahlcapo, 60600, to prepare is return, which is filed on April 2017 The idencificadon number is P00330124, The partnership employer identifica ber is 2 825343 Mr. Morgan's social security num 360-92-1501, and M. Williams' number is 364-02-752. All applicable Porm() 1099 werefiled for 2016
