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Richard owns an apartment building that he actively manages which generates net rental income of $54,600. He is also a 75% general partner in the
Richard owns an apartment building that he actively manages which generates net rental income of $54,600. He is also a 75% general partner in the NotNow Partnership which generated a loss of $21,400 on his K1. Richard is also a 50% shareholder in Speedy, Inc., an S corporation, which generated a $66,400 profit on his K-1. What is Richard's net income to be reported on Schedule E? Income reported on Schedule E, page 1 $ Income reported on Schedule E, page 2 $
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