Partnership TR_Book_Tax Reconciliation.xlsx Please read the requirements carefully.
You will need to prepare a 2013 Form 1065 pages 1, 4 and 5. You do NOT need to prepare the balance sheet portion of Page 5, however you do need to prepare the Analysis of Net Income at the top of page 5, along with Schedule M-1 and M-2 at the bottom. You will need to prepare for Form K-1 for partner Mark Sullivan. You should include any required statements detailing lines where you have totaled several items together, for example line 20 on page 1. The line will tell you to attach a statement.
Please make sure you complete everything on the return including checking any boxes or answering any questions asked. You should prepare it as if you are the paid preparer and this is your client.
I am also attaching an incomplete book-tax reconciliation similar to the C Corporation assignment. In the far right hand column, you will indicate the items that are separately stated and the amount.
Please finish it on time. Thank you.