partnership tax return (Form 1065)

Required: Prepare the 2020 partnership tax return (Form 1065), including the following additional schedules and forms: Schedule D, Form 4562, and Schedule K-1. Alsoprepare a schedule for each partner’s basis in his or her partnership interest and each partner’s tax basis capital account. At January 1, 2020, Bailey’s basis was $1,504,878, and hertax basis capital account was $1,251,408. Firth’s basis was $3,127,382, and his tax basiscapital account was $2,535,952