1. A taxpaver is an active participant in a general partnership with their brother.
2. 
   
3.  The taxpayer makes most of the business decisions and gets a guaranteed payment of $2,000 a month. 
4. 
   
5. The taxpayer's 1065 K-1 reflects $10,000 business income in box 1, $24,000 in box 4a, $500 in interest in box 5, and $3,000 dividends in box 6a and 6b, all of which are qualified.
6. 
   
7. Is this statement true about how the taxpayer should report these items on their 1040?

Answer rating: 100% (QA)

SOLUTION Based on the information provided the statement about how the taxpayer should report these ... View the full answer