Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnership's 2020 activities: Sales revenue Selling expenses Depreciation expense Long-term capital gain Nondeductible expenses Partnership debts, beginning of the year Partnership debts, end of the year Partnership distributions Jayanthi Krish $ 865,000 346,000 48,750 17,600 3,800 105,000 129,200 52,500 52,500 Required: a-1. Calculate the partnership's ordinary (nonseparately stated) income. a-2. Indicate which items must be separately stated by selecting "Yes" and which items must not be separately stated by selecting "No" b. Calculate Jayanthi's allocable share of partnership items. c. If Jayanthi has no other sources of taxable income, what is her total gross income for 2020? d. At the beginning of the year, Jayanthi's adjusted tax basis in her partnership interest was $45,750, Calculate her ending adjusted tax basis in her partnership interest ES Reg A1 Reg AZ Req B Reg C and D Calculate the partnership's ordinary (nonseparately stated) income. Ordinary income Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnership's 2020 activities: Sales revenue Selling expenses Depreciation expense Long-term capital gain Nondeductible expenses Partnership debts, beginning of the year Partnership debts, end of the year Partnership distributions Jayanthi Krish $ 865,000 346,000 48,750 17,600 3,800 105,000 129,200 52,500 52,500 Required: a-1. Calculate the partnership's ordinary (nonseparately stated) income. a-2. Indicate which items must be separately stated by selecting "Yes" and which items must not be separately stated by selecting "No". b. Calculate Jayanthi's allocable share of partnership items. c. If Jayanthi has no other sources of taxable income, what is her total gross income for 2020? d. At the beginning of the year, Jayanthi's adjusted tax basis in her partnership interest was $45,750. Calculate her ending adjusted tax basis in her partnership interest. s Req A1 Req A2 ReqB Reg C and D Indicate which items must be separately stated by selecting "Yes" and which items must not be separately "No" Sales revenue Selling expenses Depreciation expense Long-term capital gain Nondeductible expenses Partnership debts, beginning of the year Partnership debts, end of the year Partnership distributions Saved ter 10 (J) Help Save & Exit Subm Long-term capital gain 17,600 Nondeductible expenses 3,800 Partnership debts, beginning of the year 105,000 Partnership debts, end of the year 129,200 Partnership distributions Jayanthi 52,500 Krish 52,500 Required: a-1. Calculate the partnership's ordinary (nonseparately stated) income. a-2. Indicate which items must be separately stated by selecting "Yes" and which items must not be separately stated by selecting "No". b. Calculate Jayanthi's allocable share of partnership items. c. If Jayanthi has no other sources of taxable income, what is her total gross income for 2020? d. At the beginning of the year, Jayanthi's adjusted tax basis in her partnership interest was $45,750 Calculate her ending adjusted tax basis in her partnership interest. Reg A1 Reg A2 ReqB Reg C and D Calculate Jayanthi's allocable share of partnership items. Amount Ordinary income Reg A2 ReqC and D > Depreciation expense Long-term capital gain Nondeductible expenses Partnership debts, beginning of the year Chapter 10 (J) Saved Help Save & Exit Submit Sales revenue Selling expenses Depreciation expense Long-term capital gain Nondeductible expenses Partnership debts, beginning of the year Partnership debts, end of the year Partnership distributions Jayanthi Krish $ 865,000 346,000 48,750 17,600 3,800 105,000 129,200 52,500 52,500 Required: a-1. Calculate the partnership's ordinary (nonseparately stated) income. a-2. Indicate which items must be separately stated by selecting "Yes" and which items must not be separately stated by selecting "No" b. Calculate Jayanthi's allocable share of partnership items. c. If Jayanthi has no other sources of taxable income, what is her total gross income for 2020? d. At the beginning of the year, Jayanthi's adjusted tax basis in her partnership interest was $45,750. Calculate her ending adjusted tax basis in her partnership interest Reg A1 Req A2 Req B Reg C and D c. If Jayanthi has no other sources of taxable income, what is her total gross income for 20207 d. At the beginning of the year, Jayanthi's adjusted tax basis in her partnership interest was $45,750. Calci adjusted tax basis in her partnership interest. Amount c. Total gross income d. Adjusted tax basis