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How would I fill out a Schedule K-1 form 1065 for each partner, given the information for each individual. Schedule of Sharing of Profits, Losses

How would I fill out a Schedule K-1 form 1065 for each partner, given the information for each individual.

Schedule of Sharing of Profits, Losses and Separately Stated Items. Ordinary Business Income is allocated according to individual partners' interest, Including the items below Separately stated as follows on Schedules K and K-1:

  • Interest Income are allocated to each partner based on his/her percentage interest ownership
  • Contributions of capital are allocated 100% to each partner based on the amount contributed
  • Charitable Contributions are allocated to each partner based on his/her percentage interest ownership.
  • Net Long-term Capital Gains (Losses) are allocated to each partner based on his/her percentage ownership
  • Net Short-term Capital Gains (Losses) are allocated each partner based on his/her percentage interest ownership
  • Interest Income are allocated to each partner based on his/her percentage interest ownership
  • Qualified Dividends are allocated to each partner based on his/her percentage interest ownership
  • Unqualified Dividends are allocated to each partner based on his/her percentage interest ownership
  • Real Estate/Housing Credits are allocated to each partner based on his/her percentage interest ownership
  • Tax Exempt Interest Income Items are allocated to each partner based on his/her percentage interest ownership
  • Withdrawals and drawings are allocated individually to any partner who made one only.

Andrew Anderson 756-12-1111 10 Sysco Way Atlanta GA 30039 General

Bill Bacon 756-12-2222 20 Sysco Way Atlanta GA 30039 General

Cathy Cox 756-12-3333 30 Sysco Way Atlanta GA 30039 General

Doris Day 756-12-4444 40 Sysco Way Atlanta GA 30039 General

Elroy Elders 756-12-5555 50 Sysco Way Atlanta GA 30039 General

Farah Fawcett 756-12-6666 60 Sysco Way Atlanta GA 30039 General

Gomez Gonzalez 756-12-7777 70 Sysco Way Atlanta GA 30039 General

Andrew Anderson 756-12-1111 4/2/2016 Cash $50,000 $50,000 10%

Bill Bacon 756-12-2222 4/2/2016 Cash $150,000 $150,000 31%

Cathy Cox 756-12-3333 4/2/2016 Cash $100,000 $100,000 20%

Doris Day 756-12-4444 4/2/2016 Cash $50,000 $50,000 10%

Elroy Elders 756-12-5555 4/2/2016 Cash $40,000 $40,000 8%

Farah Fawcett 756-12-6666 4/2/2016 Cash $30,000 Land $50,000 $80,000 16%

Gomez Gonzalez 756-12-7777 4/2/2016 Cash $10,000 Computer $7,000 Furniture $3,000 $20,000 4%

BADEC Partnership Balance Sheet 4/2/2016

Assets

Cash

$430,000.0

Computer

7,000.00

Furniture

3,000.00

Land

50,000.00

Total Assets $490,000.00

Liabilities

Total Liabilities $- Partners Equity

Capital-Anderson

$50,000.00

Capital-Bacon

150,000.00

Capital-Cox

100,000.00

Capital-Day

50,000.00

Capital-Elders

40,000.00

Capital-Fawcett

80,000.00

Capital-Gonzalez

20,000.00

Total Liabilities and Partners Equity $490,000.00

Badec Partnership

Statement of Change inPartners Equity

For Period Ending12/31/2016

Begin. Bal. Contributions Withdrawals Allocations Distributions Ending Bal.

Capital-Anderson $50,000.00

$- Capital-Bacon 150,000.00

- Capital-Cox 100,000.00

- Capital-Day 50,000.00

- Capital-Elders 40,000.00 Withdrawals 5,000.00

- Capital-Fawcett 80,000.00 Withdrawals 6,000.00

- Capital-Gonzalez 20,000.00 withdrawals 7,000.00

Partners Equity

Capital-Anderson

$57,299.41

Capital-Bacon

171,898.24

Capital-Cox

114,598.83

Capital-Day

57,299.41

Capital-Elders

40,839.53

Capital-Fawcett

85,679.06

Capital-Gonzalez

15,919.77

Total Liabilities and Partners Equity $543,534.25

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