Download as:
Rating : ⭐⭐⭐⭐⭐
Price: $10.99
Language:EN
Pages: 32

And zip codeprima donna partnership flamingo drive haines city

paraphrased I also certify that this paper was prepared by me specifically for this course.

Signature Member 1 : _________N.B._________

Internal Revenue Service
1065 For calendar year 2019, or tax year beginning

Go to
U.S. Return of Partnership Income

Manufacturing Prima Donna Partnership 92-4765432

B Principal product or service Type Number, street, and room or suite no. If a P.O. box, see instructions. E Date business started

G Check applicable boxes: (1) Initial return (2) Final return (3) Name change (4) Address change (5) Amended return

H Check accounting method: (1) Cash (2) X Accrual (3) Other (specify)

1 Gross receipts or sales 1a 2,850,000.

b Returns and allowances 1b 27,000.

5 Net farm profit (loss) (attach Schedule F (Form 1040 or 1040-SR)) 5

6 Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) 6

11 Repairs and maintenance 11 63,800.

12 Bad debts 12 24,000.

b 16b 16c 92,270.

17 Depletion (Do not deduct oil and gas depletion.) 17

22 Ordinary business income (loss). Subtract line 21 from line 8 22 788,630.

23 23

28 Payment (see instructions) 28

29 Amount owed. If line 28 is smaller than line 27, enter amount owed 29

May the IRS discuss this return

Here with the preparer shown below?

Preparer

Use Only Firm's name Firm's EIN

Form 1065 (2019) Prima Donna Partnership 92-4765432 Page 2 Schedule B Other Information
1 What type of entity is filing this return? Check the applicable box: Yes No

04/01/2020 07:19:19PM

If “Yes” to any, complete and attach Form 8990.

25 Is the partnership electing out of the centralized partnership audit regime under section 6221(b)? See instructions. X If “Yes,” the partnership must complete Schedule B-2 (Form 1065). Enter the total from Schedule B-2, Part III,
line 3.

If the PR is an entity, name of the designated individual for the PR

U.S. address of U.S. phone number of
designated individual designated individual
26 Is the partnership attaching Form 8996 to certify as a Qualified Opportunity Fund? X $ If “Yes,” enter the amount from Form 8996, line 14.

Form 1065 (2019) Schedule K Prima Donna Partnership
Partners' Distributive Share Items
92-4765432 Page 4
Total amount
1
1 788,630.
2

Net rental real estate income (loss) (attach Form 8825)

2

3a
3a
b
3b
c

Income (Loss)

4 Guaranteed payments:

a Services

80,000. b Capital
5

4c
5
6a

80,000. 1,500.

6 Dividends and dividend equivalents:
b Qualified dividends
c Dividend equivalents
7

Royalties

7

8
8 -9,000.
9a
b
9b 10 25,000.
c

Unrecaptured section 1250 gain (attach statement)

9c
10

Net section 1231 gain (loss) (attach Form 4797)

11 Other income (loss) (see instructions)
Deductions 12
(2) Amount
13a
13a 15,800.
b

Investment interest expense

13b

c
13c
d Other deductions (see instructions)
Self-
Employ-
ment
14a

Net earnings (loss) from self-employment

14a

b
14c 1,413,000.
15a

Low-income housing credit (section 42(j)(5))

15a
15b

Credits
c
1,000.
d

Type

15d
15e
15f

e

Other rental credits (see instructions)

Type

f
Type
16a
c
Foreign Transactions d

Foreign gross income sourced at partnership level

Reserved for future use

e
f
g
h Other (attach statement)
i

Interest expense

j

Other

k
l
m
n

General category

o Other (attach statement)
p

Total foreign taxes (check one):

q
r

17a

9,000.
17a

Post-1986 depreciation adjustment

Alternative
Minimum Tax
(AMT) Items
b
c
d Oil, gas, and geothermal properties
e Oil, gas, and geothermal properties

deductions

f

Other AMT items (attach statement)

Other Information 18a
b
c

4,000.

600,000.

19a
b
20a
20a 27,500.
b

Investment expenses

20b
Form 1065 (2019)

c Other items and amounts (attach statement)

Form 1125-A (Rev. November 2018)

1 OMB No. 1545-0123

Name

Employer identification number

1
2
2
3

Cost of labor

3
4

Additional section 263A costs (attach schedule)

4
5
5
6
6
7

Inventory at end of year

7
8

Cost of goods sold. Subtract line 7 from line 6. Enter here and on Form 1120, page 1, line 2 or the

d If the

unde

appropriate line of your tax return. See instructions 8
Check all methods used for valuing closing inventory:
X

Other (Specify method used and attach explanation.)
Check if there was a writedown of subnormal goods
Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) If the LIFO inventory method was used for this tax year, enter amount of closing inventory computed

04/01/2020 07:19:20PM

Amount

71,000.

1.
2.

4.

5.

10.

UYA
04/01/2020 07:19:20PM

More of the Partnership OMB No. 1545-0123

Department of the Treasury Attach to Form 1065.

2009 through 2017))

Complete columns (i) through (v) below for any foreign or domestic corporation, partnership (including any entity treated as a

Part II
(iii) Type of Entity

(iv)
Country of Organization

(v) Maximum
Percentage Owned in Profit, Loss, or
Capital

SCHEDULE D (Form 1065)

Department of the Treasury Internal Revenue Service

Go to www.irs.gov/Form1065

for instructions and the latest information.

X

No

Did the partnership dispose of any investment(s) in a qualified opportunity fund during the tax year? If “Yes,” attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.

Yes

to gain or loss from

Adjustments

This form may be easier to complete if you round off cents to (sales price) (or other basis) Form(s) 8949, Part I, combine the result

whole dollars. line 2, column (g) with column (g)

1a
111,000.
-9,000.
1b
2

Totals for all transactions reported on Form(s) 8949 with
Box B checked

3

Totals for all transactions reported on Form(s) 8949 with
Box C checked

4
4
5
5
6
6
7

Net short-term capital gain or (loss).

Combine lines 1a through 6 in column (h). Enter here and

(d) (e) (g)
Adjustments
to gain or loss from Form(s) 8949, Part II, line 2, column (g)

(h) Gain or (loss)

Subtract column (e) from column (d) and combine the result with column (g)
Proceeds
(sales price)
Cost
(or other basis)

This form may be easier to complete if you round off cents to whole dollars.

8a
8b
9
10

Totals for all transactions reported on Form(s) 8949 with
Box F checked

11

Long-term capital gain from installment sales from Form 6252, line 26 or 37

11
12
12
13
13
14
14
15

Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Enter here and

on Form 1065, Schedule K, line 9a or 11; or Form 8865, Schedule K, line 9a or 11

15
Schedule D (Form 1065) 2019

Final K-1 Amended K-1 OMB No. 1545-0123 Schedule K-1 (Form 1065) 2019

K

L

Profit

Loss

Recourse

Beginning capital account

Did the partner contribute property with a built-in gain or loss?

Beginning

TIN

Yes
Check this box if Item K includes liability amounts from lower tier partnerships.

$

$
PARTNERSHIP

$

$

321,552.

376,065.

99,990.
Ending
%
%
%

)

beginning ending
Partner's Share of Income, Deductions,
Credits, etc. See page 2 and separate instructions.

Part I Information About the Partnership
A Partnership's employer identification number

Part II Information About the Partner

E Partner's SSN or TIN (Do not use TIN of a disregarded entity. See instructions.)

For Paperwork Reduction Act Notice, see Instructions for Form 1065. UYA 04/01/2020 07:19:20PM www.irs.gov/Form1065 Schedule K-1 (Form 1065) 2019

Amount
7,110.

Code

Detail Statements
Description

A
EIN:

92-4765432

PTP

11,250.

Section 179 deduction
Charitable contributions
Other deductions

Cooperative
EIN:

PTP Aggregated Partner's share of: SSTB

Partnership: Prima Donna Partnership

EIN: 92-4765432

Amount
$354,884. $675.

Partner:

J

K

Partner's share of profit, loss, and capital (see instructions):

Profit

Qualified nonrecourse financing

Recourse

Ending capital account

Did the partner contribute property with a built-in gain or loss?

If the partner is a disregarded entity (DE), enter the partner's:

TIN

$

$

$

$

Ending
55.0000
55.0000
55.0000

393,009.

$ 122,209.
23,100.

Ending
%
%
%

Part I Information About the Partnership
A Partnership's employer identification number

92-4765432
B Partnership's name, address, city, state, and ZIP code

E Partner's SSN or TIN (Do not use TIN of a disregarded entity. See instructions.)

567-54-4221
F Name, address, city, state, and ZIP code for partner entered in E. See instructions.

For Paperwork Reduction Act Notice, see Instructions for Form 1065. UYA 04/01/2020 07:19:20PM www.irs.gov/Form1065 Schedule K-1 (Form 1065) 2019
Code

Detail Statements
Description

A

Charities

EIN:

PTP

Aggregated

13,750.

Section 199A dividends

PTP Aggregated Partner's share of: SSTB

QBI items allocable to qualified payments subject to partner-specific determinations:

Partnership: Prima Donna Partnership EIN: 92-4765432

Partner: Donna Hart ID Number: 567-54-4221

Form 3468

Investment Credit
Attach to your tax return.
Identifying number

Prima Donna Partnership 92-4765432

Part I Information Regarding the Election To Treat the Lessee as the Purchaser of Investment Credit Property

1
2

3 Description of property

4 Amount for which you were treated as having acquired the property $

5

in section 48A(d)(3)(B)(i)

$

x 20% (0.20)
b
c

Qualified investment in advanced coal-based generation technology

property placed in service during the tax year for projects described in section 48A(d)(3)(B)(iii) $ x 30% (0.30)

5d
6

separates and sequesters at least 75% of the project's carbon dioxide emissions $ x 30% (0.30)

6a

b
6c
7

Qualified investment in advanced energy project property placed in

service during the tax year

$ x 30% (0.30)
8
8
9 Form 3468 (2019)
10

For Paperwork Reduction Act Notice, see separate instructions. UYA

04/01/2020 07:19:20PM

04/01/2020 07:19:20PM

Page 3

Caution: You can’t claim this credit if the electrical capacity of the property is more than 50

12p

p
q

$

x 10% (0.10)
If the electrical capacity of the property is measured in:

Megawatts, divide 15 by the megawatt capacity. Enter 1.0 if the capacity is 15 megawatts or

r

Multiply line 12p by line 12q

12r

04/01/2020 07:19:20PM

Attachment 2019

Internal Revenue Service Attach to your tax return. Sequence No. 27

substitute statement) that you are including on line 2, 10, or 20. See instructions 1

Part I Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From

acquisition
improvements and

expense of sale sum of (d) and (e)

6 Gain, if any, from line 32, from other than casualty or theft 6

7 Combine lines 2 through 6. Enter the gain or (loss) here and on the appropriate line as follows 7 25,000.

1231 losses, or they were recaptured in an earlier year, enter the gain from line 7 as a long-term capital gain on

the Schedule D filed with your return and skip lines 8, 9, 11, and 12 below.

8
8
0.
9
9

long-term capital gain on the Schedule D filed with your return. See instructions Part II Ordinary Gains and Losses (see instructions)

10

Ordinary gains and losses not included on lines 11 through 16 (include property held 1 year or less):

11 )
11
12
12
13
13
14
14
15

Ordinary gain from installment sales from Form 6252, line 25 or 36

15
16

Ordinary gain or (loss) from like-kind exchanges from Form 8824

16
17
17
18

loss from income-producing property on Schedule A (Form 1040 or Form 1040-SR), line 16. (Do not include any

loss on property used as an employee.) Identify as from "Form 4797, line 18a." See instructions

18a Form 4797 (2019)
b
18b

04/01/2020 07:19:20PM

Partnership's name
Prima Donna Partnership
Employer identifying number 92-4765432

Detail Statements

Code
Description Amount
A 15,800.

Code - Description
E - Qual. rehabilitation expenditures(rental real estate)

Amount
1,000.

Statement A - QBI Pass-through Entity Reporting

Partnership's name:

Partner's name: Partner's identifying number:
Ordinary business income (loss)

Rental income (loss)

Section 179 deduction
Charitable contributions
Other deductions

132,000.

Partner's name: Partner's identifying number:

Cooperative
EIN:

Beginning of tax year End of tax year

2.

3.

8.

9.

STATEMENT 1
FORM 1065, LINE 20 (OTHER DEDUCTIONS)

$ 168,900.00

Other Taxes

$ 11,600.00

STATEMENT 5
FORM 1065, SCHEDULE L , LINE 6 - OTHER CURRENT ASSETS

DESCRIPTION BEGINNING BALANCE

ENDING BALANCE

STATEMENT 7
FORM 1125-A, LINE 5 Other Cost

$ 12,000.00

TOTAL

DESCRIPTION AMOUNT

Ordinary Business Income

$ 433,746.50

SCHEDULE K-1, PART III interest income

$ 1,500.00

Allocation to Prima 45%

SCHEDULE K-1, PART III 8 Net Short term capital gain (LOSS)

$ 3,000.00

TOTAL

$ (4,950.00)

SCHEDULE K-1, PART III, 10, NET SECTION 1231 Gain/loss

$ 15,800.00

Allocation to Prima 45%

SCHEDULE K-1, PART III, 18, Tax exmenpt income & Nondedectuble expenses

$ 1,800.00

allocation to Donna 55%

DESCRIPTION AMOUNT

Investment Income

$ 15,125.00

SCHEDULE K-1, PART III, 14A, self employment earning

$ 1,413,000.00

Allocation to Prima 45%

RECONCILATION OF PARTNERS CAPITAL ACCOUNT

PARTNERS BEG. CAPITAL
DISTRIBUTION END. CAPITAL
Marianna Prima 45%

$ 270,000.00

$ 427,617.00

Donna Hart 55%
Copyright © 2009-2023 UrgentHomework.com, All right reserved.