Examlex
Which of the following is not considered a capital improvement for a rental activity?
Net Income
The amount of money left after all expenses, taxes, and deductions have been subtracted from a company's total revenue.
Separately Stated Items
Items on a partnership or S corporation tax return that are passed through to the owners or shareholders separately from ordinary income.
Schedule K-1
A financial form that details the earnings, deficits, and dividend distributions for partners or shareholders of a partnership or S corporation.
Partnership Income
The share of profits or losses from a partnership that is reported on the personal income tax returns of the partners, influenced by the terms of the partnership agreement.
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