Which of the Following Is Not a Separately Stated Item

question 8

Multiple Choice

Which of the following is not a separately stated item on a partnership's Schedule K?

• A)A $5,000 long-term capital loss
• B)$20,000 of Section 1245 recapture
• C)$3,000 charitable contribution
• D)$5,000 bond interest income

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Definitions:

Deposited Cash

Cash that has been placed into a bank account or financial institution for safekeeping or to earn interest.

Bond Refunding

The process of retiring existing bonds by issuing new bonds, usually to take advantage of lower interest rates.

Advantageous

Providing a benefit or favor, leading to improvement or an increased chance of success.

Book Value

The net value of an asset or liability recorded on the balance sheet, calculated as its original cost minus any depreciation, amortization, or impairment costs.