Page 49 - Income Documentation

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PARTNER# 1 651119
Sched le K 1 - 2020 □ FinalK-1 □ Amended K-1 0MB No. 1545-0123
u
(Form 1065) I Part 1111 Partner's Share of Current Year Income,
Deductions Credits and Other Items
Department of the Treasury
Internal Revenue Service For calendar year 2020, or lax year 1 Ordinary business income (Joss) 15 Credits
beginning I I ending I I
2 Net rental real estate income (loss)
Partner's Share of Income, Deductions, 26,456
Credits, etc. ► See aeparate instructions. *
J Other net rental income (loss) 16 Foreign transactk>ns
I Part 11 lnfonnation About the PartnershiD
A Partnership's employer identification number
4a Guaranteed payments for services
75-2936011
B Partnership's name, address, city, state, and ZIP code
4b Guaranteed payments for capital
ARMES FAMILY FARMS
4c Total guaranteed payments
PO BOX 835
STEPEHNVILLE TX 76401
5 Interest income
►
C IRS Center where partnership filed return
E-FILE 6a Ordinary dividends
□
D Check if this Is a publicly traded partnership (PTP)
6b Qualified dividends
I Part II I lnfonnatlon About the Partner 17 Alternative minimum tax {AMT) items
E Partner's SSN or TIN (Do not use TIN of a disregarded entity, See instructions.)
6c Dividend equivalents
466-64-9739
F Name. address. city, state, and ZIP code for partner entered in E. See instructions. 7 Royalties
DAVID ARMES
8 Net short-term capital gain (loss)
461-102 KAKKIS DR 18 Tax-exempt income and
LONG BEACH CA 90803 9a Net long-term capital gain (loss) nondeductible expenses
C* STM'I
G ~ General partner or LLC Limited partner or other LLC 9b Collectibles (26%) ga,n (loss)
member-manager
□
Hl ~ Domestic partner □ member 9c Unrecaptured section 1250 gain
Foreign par1ner
H2 □ If the partner Is a disregarded entity (DE), enter the partner's:
TIN 10 Net section 1231 gain (loss)
19 Distributions
Name
A 40 000
11 Other income (loss)
11 What type of entity is this partner? INDIVIDUAL
12 If this partner is a retirement plan (IRNSEP/Keogh/etc. ), check here □
J Partner's share of pro/it, loss, and capital (see instructions):
20 Other information
Beginning Ending
Profit 33, 333333 'h 33.333333 % 12 Section 179 deduction Z*
Loss 33 . 333333 % 33.333333 % STM'I
13 Other deductions
Capital 33 , 333333 'h 33 , 333333 'h
AH* STM'I
Check. if decrease is due lo sale or exchange of pan nership interest .. , .... , .. , □ ' ..
1
K Partner s share of liabilities:
Beginning Ending
N onr&COlXS8 . .. $ $
Qualified nonrecourse
financing $ $
Recourse . . . .. . . $ s 14 Self-employment earnings (loss)
I
I I Check this box W tem K includes liability amounts from lower tier partnerships.
L Partner's Capital Account Analysis
.. . .. _$ 8,740
Beginning capilal account ... . ,
Capital contributed during lhe year ... . ... .. .. . . . . .$ 21 MOf'e than one activity for at•risk purposes•
Current year nel income (loss) . .... . . $ 26l456 22 ~ More than one acttvity for passive activity purposes•
_$ *See attached statement for additional information.
Other increase (decrease) (atlach explanalion) . ,. ,, '
W ithdrawals & distributions .... .. ... , •· ·· .. ... $ ( 40l000 l 2!-
Ending capjtal account . . · • · · . . . ' .. $ -4 804 C:
0
Cl)
M Oid the partner contribute property with a built-in gain or loss? V,
::,
n Vos [X] No If "Yes," attach statement See instructions.
(/)
N Partner's Share of Net Unreco9nlzed Section 704(c) Gain or (Loss1 ~
Beginning . . . . . . .. , . . , .. , .S 0
. · · · ·· · u.
Ending . . .. . .... .. . . .. . . $
For Paperwork Reduction Act Notlca, see Instructions for Form 1065. www.irs.gov/Form1065 Schedule K-1 (Form 1065) 2020
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