This is an example of activity for CourseHero
651119
Final K-1
2020
Schedule K-1
(Form 1065)
Department of the Treasury
Internal Revenue Service
Part III Partner’s Share of Current Year Income,
Deductions, Credits, and Other Items
01
/
2020
/
12
ending
32
/
/
2020
Partner’s Share of Income, Deductions,
▶ See separate instructions.
Credits, etc.
Part I
A
1
Ordinary business income (loss)
2
Net rental real estate income (loss)
3
Other net rental income (loss)
Information About the Partnership
4a
Guaranteed payments for services
4b
Guaranteed payments for capital
4c
Total guaranteed payments
5
Interest income
6a
Ordinary dividends
Credits
16
Foreign transactions
17
Alternative minimum tax (AMT) items
18
Tax-exempt income and
nondeductible expenses
19
Distributions
20
Other information
Partnership’s employer identification number
-
B
75000
Partnership’s name, address, city, state, and ZIP code
Lawson And Norman Enterprise, 4369 Robbie Lane Houst
on, Texas-
C
IRS Center where partnership filed return
D
9000
▶
Check if this is a publicly traded partnership (PTP)
Part II
40000
Information About the Partner
E
Partner’s SSN or TIN (Do not use TIN of a disregarded entity. See instructions.)
6b
Qualified dividends
F
Name, address, city, state, and ZIP code for partner entered in E. See instructions.
6c
Dividend equivalents
7
Royalties
L
Valerie Lawson and Clara Norman
G
General partner or LLC
member-manager
Limited partner or other LLC
member
8
Net short-term capital gain (loss)
H1
Domestic partner
Foreign partner
9a
Net long-term capital gain (loss)
9b
Collectibles (28%) gain (loss)
H2
If the partner is a disregarded entity (DE), enter the partner’s:
TIN
Name
I1
What type of entity is this partner?
I2
If this partner is a retirement plan (IRA/SEP/Keogh/etc.), check here
9c
Unrecaptured section 1250 gain
J
Partner’s share of profit, loss, and capital (see instructions):
Beginning
Ending
10
Net section 1231 gain (loss)
11
Other income (loss)
12
Section 179 deduction
13
Other deductions
14
Self-employment earnings (loss)
Profit
%
Loss
%
Capital
%
%
%
%
Check if decrease is due to sale or exchange of partnership interest
K
15
133831
For calendar year 2020, or tax year
01
beginning
OMB No-
Amended K-1
.
.
Partner’s share of liabilities:
Beginning
Nonrecourse
$
$
Qualified nonrecourse
financing . . .
$
$
Recourse
$
$
.
.
.
.
Ending
.
Check this box if Item K includes liability amounts from lower tier partnerships.
Partner’s Capital Account Analysis
Beginning capital account
.
.
$
Capital contributed during the year .
.
.
$
Current year net income (loss) .
.
$
.
Other increase (decrease) (attach explanation) $
Withdrawals & distributions
Ending capital account
M
.
.
$(
.
.
.
$
)
No
If “Yes,” attach statement. See instructions.
Partner’s Share of Net Unrecognized Section 704(c) Gain or (Loss)
Beginning
.
.
.
.
.
.
.
.
$
Ending .
.
.
.
.
.
.
.
.
$
For Paperwork Reduction Act Notice, see Instructions for Form 1065.
21
More than one activity for at-risk purposes*
22
More than one activity for passive activity purposes*
*See attached statement for additional information.
Did the partner contribute property with a built-in gain or loss?
Yes
N
.
.
For IRS Use Only
L
www.irs.gov/Form1065
Cat. No. 11394R
Schedule K-1 (Form-