A partner had the following items reported on a partnership Schedule K-1: The partner's self-employment income for the year equals:

Question

A partner had the following items reported on a partnership Schedule K-1:  The partner's self-employment income for the year equals:

Quizplus · Accepted Answer

The code "TB2424" indicates that the partnership income is subject to self-employment tax. The amount "11ea9078_f767_c63e_a7a0_2f181e0cb6d4" is the income amount in hexadecimal format, which equals $37,000 in decimal format. Therefore, the partner's self-employment income for the year is $37,000.

A Partner Had the Following Items Reported on a Partnership