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Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnership's 2017 activities:
Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnership's 2017 activities: Sales revenue Selling expenses Depreciation expense Long- Nondeductible expenses Partnership debts, beginning of the year Partnership debts, end of the year Partnership distributions $500,000 200,000 30,000 9,000 2,000 100,000 120,000 term capital gain 50,000 50,000 Jayanthi Krish a. Complete Schedule K, Form 1065, for the partnership b. Complete Schedule K-1, Form 1065, for Jayanthi
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