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Please make the answer look like it'd look on the actual form. Form provided below. Asha, Kamal, and Malik formed a General Partnership making and
Please make the answer look like it'd look on the actual form. Form provided below.
Asha, Kamal, and Malik formed a General Partnership making and selling custom goods. They named the partnership "Global Provisions" and agreed to split profits and losses equally. The partnership was formed and began operations on January 1, 2022. For the first year of operations, the partnership has the following results: Requirements Prepare the partnership's 2022 Form 1065 pages 1 and 4 (Schedule K). Prepare the 2022 Schedule K-1 for Kamal. In Part II of the K-1, you only need to show the partner's name, you do not need to complete the other lines. Check Figure: Ordinary business income is $(18,586) For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11390z Form 1065 (2022) Page 4 Form 1065 (2022) 122 Final K-1 OMB . 1545-0123 Schedule K-1 Part III Partner's Share of Current Year Income, (Form 1065) (2) 22 Deductions, Credits, and Other Items Department of the Treasury Department of the Treasury Internal Revenue Service beginning 1/2022 ending 1/1/ \begin{tabular}{|l|l|l|l|} \hline 1 & Ordinary business income (loss) & 14 & Self-employment earnings (loss) \\ \hline \end{tabular} Partner's Share of Income, Deductions, Credits, etc. See separate instructions. A Partnership's employer identification number 4b Guaranteed payments for capital 16 Schedule K-3 is attached if B Partnership's name, address, city, state, and ZIP code 4c Total guaranteed payments 17 Altemative minimum tax (AMT) items 5 Interest income C IRS center where partnership fled return: 6a Ordinary dividends D Check if this is a publicly traded partnership (PTP) 6 Q Qualified dividends 18 Tax-exempt income and \begin{tabular}{|l|l|} \hline E Partner's SSN or TIN (Do not use TIN of a disregarded entity. See instructions.) \end{tabular} nondeductible expenses 6c Dividend equivalents F Name, address, city, state, and ZIP code for partner entered in E. See instructions. \begin{tabular}{|l|l|} \hline 7 & Royalties \\ \hline \end{tabular} 8 Net short-term capital gain (loss) 19 Distributions K Partner's share of liabilities: For Paperwork Reduction Act Notice, see the Instructions for Form 1065. www.irs.gow/Form1065 Cat. No. 11394R Schedule K-1 (Form 1065) 2022
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