Question: Please answer complete question and show work for part that was wrong. Thank you Quesiion 2 - Chapter 10 Hon ( C' i e2to.mheducation.com Chapter

Please answer complete question and show work for part that was wrong. Thank you

Please answer complete question and show work for part that was wrong.

Quesiion 2 - Chapter 10 Hon ( C' i e2to.mheducation.com Chapter 10 Homework (Tax) 0 Emma!\" 7.4/8 Total points awarded Help Exit Gross receipt-.3 from salss s am, can Cost. of goods sold (460,000! Operating expenses (96, song Business meals [6.2\"]: Section 1231 loss on equipment sale [13, SOD} charitable contribution {1,5003 Distributions to partners [1|], non: 5.4i5 ' polnis awarded _ . . . . . . Mr. Ty is a 10 percent general partner In KLMN. During the year. he received a $1,000 cash distribution from KLMN. Son ad r Required: a. Compute Mr. Ty's share of partnership ordinary income and separately stated items. b. if Mr. Ty's adjusted basis in his KLMN interest was $45,000 at the beginning otthe year, compute his adjusted basis at the end of A the year. Assume that KLMN's debt did not change during the year. gawk c. How would your basis computation change if KLMN'S debt at the end of the year was $28,000 more than its debt at the beginning of the year? r. References Complete this question Ivy entering your answers In the tab below. Required A Required B Required I: Compute Mr. Ty's share of partnership ordinary income and separately stated items. (Negative amount: should be indicated by a minus sign.) Ordinary business inoorrie $ 11,003 0 Separately stated items: Section 1231 loss on equipment sale 0 (1,350) o Charitable contribution a (150) o Nondeductible expense 0 (312) o Distributions to partners 0 9,196 o

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