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Georgio owns a 1 0 percent profits and capital interest in Rain Tree LLC . For the current year, Rain Tree had the following revenues,
Georgio owns a 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
Cost of goods sold
DepreciationMACRS
deduction
Employee wages
Nondeductible fines and penalties
Municipal bond interest
Shortterm capital gains
Guaranteed payment to Sandra
Assume the property placed in service limitation does not apply.
a How much ordinary business income loss is allocated to Georgio for the year?
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