[Anonymous]

Could someone provide a list of those? Becker isn’t really detailed about it. It’s Becker S Corp chapter.

Thanks.

[Anonymous]

I found the detailed version at: https://www.irs.gov/instructions/i1065b/ch01.html#d0e1394

It's a little confusing for our MCQs, so try this condensed version that I found online as well: https://www.bizzer.com/Pship/Outline/lect4a.htm

Separately stated items

Each partners distributive share of the partnership's income must be reported. Code Section 702 establishes a list of items that must be separately stated at the partnership level so that their character can remain intact as the income and losses are passed through and reported at the partner level. Section 702(a) lists the following items that must be stated:

Net short-term capital gains and losses.

Net long-term capital gains and losses.

Section 1231 gains and losses,

Charitable contributions.

Dividends eligible for a dividends-received deduction.

Taxes paid to a foreign country or to a U.S. possession.

Any other items provided by the Regulations.

[Anonymous]

The easiest way for me to think about these is to picture a K-1 (1120S). Separately stated items have their own box. Nonseparately stated items are included in box 1 (which is the amount from Form 1120S, page 1).

[Anonymous]

Thank you guys! I appreciate your quick responses!

[Anonymous]

Anything to distract us from our own studying 🙂

[TiredGACandidate]

https://www.irs.gov/pub/irs-pdf/f1120ssk.pdf

BEC - 76
REG - 82
FAR - 55, 84
AUD - 72,67, 88
Done!!

[TiredGACandidate]

Take what CPA1228 and I have posted. If you're a visual learner, try to visualize the form. That worked for me. I work in tax though so it was easier for me to visualize it.

BEC - 76
REG - 82
FAR - 55, 84
AUD - 72,67, 88
Done!!

[Anonymous]

Thanks guys:)

[Author]

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