Ariel,Bob,Candice and Dmitri Are Equal Partners in a Local Ski

question 46

Multiple Choice

Ariel,Bob,Candice and Dmitri are equal partners in a local ski resort.The resort reports the following items for the current year: $\begin{array}{lr}\text { Business revenue } & \$ 1,200,000 \\\text { Business expenses } & 750,000 \\\text { Short-term capital gains } & 107,000 \\\text { Short-term capital losses } & (103,00 0) \end{array}$ Each partner receives a Schedule K-1 with one-fourth of the preceding items reported to him/her.How must each individual report these results on his/her Form 1040?

• A)$100,000 income on Schedule E;$1,000 short-term capital gain on Schedule D
• B)$112,500 income on Schedule E;$1,000 short-term capital gain on Schedule D
• C)$300,000 income on Schedule E;$26,750 short-term capital gain on Schedule D
• D)$1,200,000 income on Schedule E;$107,000 short-term capital gain on Schedule D

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Definitions:

Punctuated Correctly

Written or arranged properly using punctuation marks like commas, periods, and question marks to clarify meaning.

Class

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Member

An individual belonging to a group, organization, or a part of a structure.

Correct Punctuation

The accurate use of symbols in writing, such as commas, periods, and question marks, to clarify meaning and separate elements.