Question: Penguin LLP owns a rental property and operates a consulting

Penguin LLP owns a rental property and operates a consulting business. Each partner is active in the business and receives compensation from the LLP. The LLP invests its excess cash in government and corporate bonds, blue chip stocks, and a global mutual fund. It owns property that is subject to accelerated depreciation.
What types of information must Penguin accumulate and report on its Schedule K?

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  • CreatedSeptember 09, 2015
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