Page 43 - Income Documentation

55169

Form 1065 U.S. Return of Partnership Income 0MB No. 1545-0123

Department of the Treasu,,
Internal Revenue Service
A Principal business activity Name of partnership D Employer identification number

FARM RENTS ARMES FAMILY FARMS 75-2936011
Type
B Principal product or service Number, street, and room or suite no. If a P.O. box, see instructions. E Date business started
or
COTTON Print PO BOX 835 01/01/2001
C Business code number City or town, stale or province, country, and ZIP or foreign postal code F Total assets
(see instructions}
STEPEHNVILLE TX 76401 $
111900
G Check applicable boxes: (1} L Initial return (2) lJ Final return (3) LJ Name change (4) LJ Address change (5) D Amended return
.
.
H Check accounting method: (1) I! Cash (2) LJ Accrual (3) LJ Other (specify) ► . . . . . . .... _ . . ....
I Number of Schedules K-1 . Attach one for each person who was a partner at any time during the tax year ► 3
J Check if Schedules C and M-3 are attached · · · · · · · .. · · · · .. · · · .. · .. .. · · ► 0
'
K Check if partnership: (1) □ Aggregated activities for section 465. ~t~;i~-k ~u;~~~~~ i2i . ·o. Grouped activities for section 469 passive activity purposes
Caution: Include onlv trade or business income and exoenses on lines 1 a throuoh 22 below. See instructions for more information.
1a Gross receipts or sales . .. . _.. . . _. .. .... ... .. .. . _. .. . . _ 1--l1_a_l ________ ---1
-
b Returns and allowances . . . ..... .. .. .. _... ... .. . . . . . . . . . . . . . . . . . . . . . . l~1_b __ _______ ----1
1
c Balance. Subtract line 1b from line 1a 1c
.... ··•·· ······ ············· -·•·· ··· ·· •··•· ··· . .... . . . .. . . . . · ···· · · · · ·• ·
.
QI 2 Cost of goods sold (attach Form 1125-A) .. .. ... . .. . _ ... .... .. ... ..... ... ..... .. .. .... _ ... .. .. . .. ... .. .. . ... ... .. 2
E 3 3
.
0 Gross profit. Subtract line 2 from line 1 c . . . . . .. . . . . . . . . . .. . . . . . . . . .. . _ .. .. .... .... ... ... . ... . _ .. .. .... ... .
CJ 4 Ordinal)' income (loss) from other partnerships, estates, and trusts (attach statement) . ... .. _ .. _ . _ .. ... . _. _ .. . _ . .. .... . .. . . 4
.
.
.
.E
5 Ne! farm profit (loss) {attach Schedule F (Form 1040)) s
6 Net gain (loss) from Form 4797. Part II, line 17 (attach Form 4797) 6
7 Other income (loss) (attach statement) .. .. .. . . .. .. . ... . _ .. ... .... .. . 7
.
8 Total income (loss). Combine lines 3 through 7 . 8
~ 9 Salaries and wages (other than to partners) (less employment credits) 9
Q 10 Guaranteed payments lo partners 10
s
~ 11 Repairs and maintenance .. . 11
.£! 12 Bad debts 12
~ 13 Rent 13
0
ti 14 Taxes and licenses . ... . ....... ... ············ ·· ··· ....... ......... , ... .. ............... .... .... ........ ..... . 14
2
.
]i 1 S Interest (see instructions) ... ... _ . _ ... . ... .. ... . _ ... .. . 15
.
.
. · l 1·s~-1 ·.
gJ 16a Depreciation (if required, attach Form 4562) . . . . . . .. _ . . . . . . . . . . . . . . . . . ..
$ b Less depreciation reported on Form 1125-A and elsewhere on return I 16b I 16c
1h
g 17 Depletion (Do not deduct oil and gas depletion.) 17
~ 18 Retirement plans, etc. 18
,6 19 Employee benefit programs .. . 19
~ 20 Other deductions (attach statement) ... . 20
21 Total deductions. Add the amounts shown in the far right column for lines 9 through 20 .. 21
22 Ordinary business income (loss). Subtract line 21 from line 8 .. 22
23 Interest due under the look-back method-completed long-term contracts (attach Form 8697) 23
I 24 Interest due under the look-back method-income forecast method (attach Form 8866) .... .. . .. . ... .. . . .... . _ 24
E 2s BBA AAR imputed underpayment (see instructions) 25
>-
~ 26 Other taxes (see instructions) .. .. .. . ... .. _ . .. _ . 26
"t:I 27 Total balance due. Add fines 23 through 26 ... 27
; 28 Payment (see instructions) .. .. . 28
>< 29 Amount owed. If line 28 is smaller than line 27. enter amount owed 29
~
and belief. it is true, correct, and complete. Declaration of preparer (other than partner or limlted llability company member) is based on all informationr--M--he lR_S_d _ --th-. -----1
30 Overoavment. If line 28 is laroer than line 27 enter overoavment . 30
Sign Under penalties of perjury, I d eclare that I have examined this return, Including accompanying schedules arid statements, and to the best of my know1edge t - _
of whieh preparer has any knowledge ay 1scuss 1s return
Here ► ► with the preparer ~n below?~
Sianature of oartner or limited liabilitv come>anv member Date inSlructions. IXI Yes I I No
PrinVType prepare( s name I Prepare~, signatL.a'e
Date I Check IJ If I PTIN
Paid MELANIE TAlrLOR CFA !MELANIE TAlrLOR CFA I 04/01/21 sell-employed F01285241
Preparer Firm's name ► BOUCHER, MORGAN & YOUNG, PC , CPA Firm'sEIN ► 7 5-2137042
Use Only Firm's address ► P . 0 , BOX 2 0 3
STEPHENVILLE. TX 76401 Phone no. 254-965-73.21
For Paperwork Reduction Act Notice, see separate instructions. Fem, 1065 (2020)
OAA