Multiple Choice
ABC LLC reported the following items on the LLC's Schedule K: ordinary income, $100,000? interest income, $3,000? long-term capital loss, ($4,000) ? charitable contributions, $1,000? depreciation adjustment, $10,000? and cash distributions to partners, $50,000. How much will ABC show as net income (loss) on its Analysis of Income (Loss) ?
A) $68,000
B) $78,000
C) $95,000
D) $98,000
E) $102,000
Correct Answer:

Verified
Correct Answer:
Verified
Q37: Match each of the following statements with
Q54: A partnership cannot use the cash method
Q96: Match each of the following statements with
Q112: Xena and Xavier form the XX LLC.
Q147: Rebecca is a limited partner in the
Q149: Emma's basis in her BBDE LLC interest
Q155: Maria owns a 60% interest in the
Q157: AmCo and BamCo form the AB General
Q161: Landis received $90,000 cash and a capital
Q171: In a proportionate liquidating distribution, Sam receives