computing partnership/s-corp income

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  • October 20, 2011 at 11:22 pm #162298
    sunny810
    Member

    interest income is separately stated, but interest expense is included in ordinary partnership and s-corp income?

    can anyone confirm?

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  • October 21, 2011 at 12:43 am #304045
    gms361
    Member

    That is correct.

    AUD - 83
    FAR - 78
    BEC - 76
    REG - 86 PTL!!!!!

    Used CPAExcel & Wiley testbank (awesome by the way)

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