Enid owns an apartment building that she actively manages which generates net rental income of $66,000....

 

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Enid owns an apartment building that she actively manages which generates net rental income of $66,000. She is also a 60% general partner in the YouBet Partnership which generated a loss of $16,000 on her K-1. Enid is also a 50% shareholder in Slowdown, Inc., an S corporation, which generated a $43,000 profit on her K-1. What is Enid's net income to be reported and on what tax form? Enid owns an apartment building that she actively manages which generates net rental income of $66,000. She is also a 60% general partner in the YouBet Partnership which generated a loss of $16,000 on her K-1. Enid is also a 50% shareholder in Slowdown, Inc., an S corporation, which generated a $43,000 profit on her K-1. What is Enid's net income to be reported and on what tax form?

Answer rating: 100% (QA)

Enids net income to be reported is 93000 and it will be reported on Fo... View the full answer