Preview
INDEX NO. EF2022-0516
NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024
12024-02301 Index #: EF2022-0516
EXHIBIT “F”
= INDEX NO. EF2022-0516
NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024
12024-02301 Index # EF2022-0516
U.S. Return of Partnership Income
rom TU65 OMB No. 1545.0123
Department of the Treasury
Internal Revenue Service
For calendar year 2020, or tax year beginning
> Go to www.irs.gov/Form1065 for instructions and the latest information.
ending
2020
A Principal business activity Name of partnership D Employer identification number
RENTAL MAZZA AND AMICI LLC ue 0717
B Principal product or service Type Number, street, and room or suite no. If a P.O. box, see instructions. Date business started
RENTAL Print 307 _N. TIOGA STREET 01/01/2012
Total asseis
c Business code number City or town, stale or province, country, and ZIP or foreign postal code (see instructions)
ITHACA NY 14580 $ 1,229,277
531110
Check applicable boxes:
Check accounting method: (1) [X} Cash
(1)
E Initial return (2)
(2) H Final return
Accrual
(3)
(3)
Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year
Name change (4) [_] Address change
Other (specify) >
(6) [_] Amended return
Check if Schedules C and M-3 are attached >O
Check if partnership: (1) [ ] Aggregated activities for section 465 at-risk purposes (2) [| Grouped activities for section 469 passive activity purposes
Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information.
ta Gross receipts or sales fa
b Returns and allowances 1b
c Balance. Subtract line 1b from line 1a de
Cost of goods sold (attach Form 1125-A)
Gross profit. Subtract line 2 from line 1¢
Ordinary income (loss) from other partnerships, estates, and trusts (attach statement)
Net farm profit (loss) (attach Schedule F (Form 1040))
Net gain (loss) from Form 4797, Part ll, line 17 (attach Form 4797)
Other income (loss) (attach statement)
Total income (loss). Combine lines 3 through 7
Salaries and wages (other than to partners) (less employment credits)
10 Guaranteed payments to partners 10
11 Repairs and maintenance 11
12 Bad debts 12
13 Rent 13
14 Taxes and licenses 14
15 Interest (see instructions) 15
16a Depreciation (if required, attach Form 4562) 16a 43,548
Less depreciation reported on Form 1125-A and elsewhere on return 16b 43,548 16c
17 Depletion (Do not deduct oil and gas depletion.) 17
3 18 Retirement plans, etc. 18
19
419 Employee benefit programs
20 Other deductions (attach statement) 20
21 Total_deductions. Add the amounts shown in the far right column for lines 9 through 20 21
22 Ordinary business income (loss). Subtract line 21 from line 8 22
23 Interest due under the look-back method—completed long-term contracts (attach Form 8697) 23
24 Interest due under the look-back method—income forecast method (attach Form 8866) 24
25 BBA AAR imputed underpayment (see instructions) 25
26 Other taxes (see instructions) 26
27 Total balance due. Add lines 23 through 26 27
28 Payment (see instructions) 28
29 Amount owed. If line 28 is smaller than line 27, enter amount owed 29
30 Overpayment. If line 28 is larger than line 27, enter se 30
Under penalties of perjury, | declare that | have examined this retum, incl ing schedules and statements, and to the best of my knowledge
Sign and belief, itis true, correct, and jete” Declaration of preparer (other than partner or imited liabily compary member) is based on all information May the IRS discuss this relurn
lof which preparer has any knowledge,
D
Here with the preparer mn below?
instructions. Yes ET. ve
‘Signature of partner or limited labiily company member
Prin/Type preparer’s name Preparer’s signature Check it PTIN
Paid DAVID W. SPRAGUE [DAVID W. SPRAGUE 02/27/21 self-employed 00001133
Preparer Ficn’s name > SPRAGUE & JACKSON Fis END 6S 88.40
Use Only] Finr’s address > 121 E SENECA ST
ITHACA, NY 14850-4308 Phone no. 607-273-5322
For Paperwork Reduction Act Notice, see separate instructions. Form 1065 (2020)
DAA
= INDEX NO. EF2022-0516
NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024
12024-02301 | MAZZA AND AMICI LLC GE 717 Index # EF2022-0516
Schedule B Other Information
1 What type of entity is filing this return? Check the applicable box: Yes | No
a Domestic general partnership b Domestic limited partnership
c Domestic limited liability company d Domestic limited liability partnership
e Foreign_partnership f Other >
At the end of the tax year: ee
Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-
‘exempt organization, or any foreign government own, directly or indirectly, an interest of 50% or more in the profit
loss, or capital of the partnership? For rules of constructive ownership, see instructions. If “Yes,” attach Schedule
B-1, Information on Partners Owning 50% or More of the Partnership
Did any individual or estate own, directly or indirectiy, an interest of 50% or more in the profit, loss, or capital of
the partnership? For rules of constructive ownership, see instructions. If “Yes,” attach Schedule B-1, Information
on Partners Owning 50% or More of the Partnership
At the end of the tax year, did the partnership:
‘Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of
stock entitled to vote of any foreign or domestic corporation? For rules of constructive ownership, see instructions.
lé"Yes," complete (i) through (iv) below x
(iv) Percentage
i) Name of Corporation (ii) Employer Identification (il) Country of ‘Owned in Voting
Number (if any) Incorporation Stock
b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss,
or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial
interest of a trust? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below x
(ii) Employer {iv) Country of (v) Maximum
(i) Name of Entity Identification (iil) Type of Percentage Owned in
Number (if any) Entity Organization Profit, Loss, or Capital
Does the partnership satisfy all four of the following conditions? Yes | No
The partnership's total receipts for the tax year were less than $250,000.
The partnership's total assets at the end of the tax year were less than $1 million.
Schedules K-1 are filed with the return and furnished to the partners on or before the due date (including
extensions) for the partnership return.
The partnership is not filing and is not required to file Schedule M-3
if "Yes," the partnership is not required to complete Schedules L, M-1, and M-2; item F on page 1 of Form 1065;
or item L on Schedule K-1
Is this partnership a publicly traded partnership as defined in section 469(k)(2)?
During the tax year, did the partnership have any debt that was canceled, was forgiven, or had the terms modified
so as to reduce the principal amount of the debt?
Has this partnership filed, or is it required to file, Form 8918, Material Advisor Disclosure Statement, to provide
information on any reportable transaction?
At any time during calendar year 2020, did the partnership have an interest in or a signature or other authority over
a financial account in a foreign country (such as a bank account, securities account, or other financial account)?
See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and
Financial Accounts (FBAR). If “Yes,” enter the name of the foreign country
At any time during the tax year, did the partnership receive a distribution from, or was it the grantor of, or
transferor to, a foreign trust? If “Yes,” the partnership may have to file Form 3520, Annual Return To Report
Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. See instructions
10a Is the partnership making, or had it previously made (and not revoked), a section 754 election?
See instructions for details regarding a section 754 election. ee ae
Did the partnership make for this tax year an optional basis adjustment under section 743(b) or 734(b)? If "Yes,”
attach a statement showing the computation and allocation of the basis adjustment. See instructions x
Form 1065 (2020)
DAA
INDEX NO. EF2022-0516
NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024
12024-02301 . MAZZA AND AMICI LLC Ga 717 Index# EF2022-0516
Schedule B Other Information (continued)
c {s the partnership required to adjust the basis of partnership assets under section 743(b) or 734(b) because of a Yes | No
substantial built-in loss (as defined under section 743(d)) or substantial basis reduction (as defined under section
734(d))? If "Yes," attach a statement showing the computation and allocation of the basis adjustment. See instructions x
1 Check this box if, during the current or prior tax year, the partnership distributed any property received in a like-
kind exchange or contributed such property to another entity (other than disregarded entities wholly owned by the
partnership throughout the tax year) >t]
12 At any time during the tax year, did the partnership distribute to any partner a tenancy-in-common or other
undivided interest in partnership property?
13 If the partnership is required to file Form 8858, Information Return of U.S. Persons With Respect To Foreign
Disregarded Entities (FDEs) and Foreign Branches (FBs), enter the number of Forms 8858 attached. See
instructions
14 Does the partnership have any foreign partners? If "Yes," enter the number of Forms 8805, Foreign Partner's
Information Statement of Section 1446 Withholding Tax, filed for this partnership
15 Enter the number of Forms 8865, Retum of U.S. Persons With Respect to Certain Foreign Partnerships, attached
to this return
16a Did you make any payments in 2020 that would require you to file Form(s) 1099? See instructions
If "Yes," did you or will you file required Form(s) 10997
17 Enter the number of Form(s) 5471, Information Return of U.S. Persons With Respect To Certain Foreign
Corporations, attached to this return
18 Enter the number of partners that are foreign governments under section 892
19 During the partnership's tax year, did the partnership make any payments that would require it to file Form 1042
and 1042-S under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474)?
20 Was the partnership a specified domestic entity required to file Form 8938 for the tax year? See the Instructions for Form 8938
21 ls the partnership a section 721(c) partnership, as defined in Regulations section 1.721(c)-1(b)(14)?
22 During the tax year, did the partnership pay or accrue any interest or royalty for which one or more partners are
not allowed a deduction under section 267A? See instructions
If"Yes,” enter the total amount of the disallowed deductions > Ss
23 Did the partnership have an election under section 163(j) for any real property trade or business or any farming
business in effect during the tax year? See instructions
24 Does the partnership satisfy one or more of the following? See instructions
‘The partnership owns a pass-through entity with current, or prior year carryover, excess business interest expense.
The partnership's aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years
preceding the current tax year are more than $26 million and the partnership has business interest.
The partnership is a tax shelter (see instructions) and the partnership has business interest expense.
If "Yes" to any, complete and attach Form 8990.
25 Is the partnership electing out of the centralized partnership audit regime under section 6221(b)? See instructions.
If “Yes,” the partnership must complete Schedule B-2 (Form 1065). Enter the total from Schedule B-2, Part Ill,
line 3
If "No," complete Designation of Partnership Representative below.
Designation of Partnership Representative (see instructions)
Enter below the information for the partnership representative (PR) for the tax year covered by this return.
Name of PR > EDWARD MAZZA
us. of PR > 307 N. TIOGA STREET USS. phone number of
ITHACA NY_ 14850 PR > 607-273-6000
Ifthe PR is an entity, name of the designated individual for the PR_ D>
US. address of, U.S, phone number of
designated individual designaled individual
26 Is the partnership attaching Form 8996 to certify as a Qualified Opportunity Fund?
If "Yes," enter the amount from Form 8996, line 16 > ¢
27 Enter the number of foreign partners subject to section 864(c)(8) as a result of transferring all or a portion of an
interest in the partnership or of receiving a distribution from the partnership
28 ‘At any time during the tax year, were there any transfers between the partnership and its partners subject to the
disclosure requirements of Regulations section 1.707-8?
29 Since December 22, 2017, did a foreign corporation directly or indirectly acquire substantially all of the properties
constituting a trade or business of your partnership, and was the ownership percentage (by vote or value) for
purposes of section 7874 greater than 50% (for example, the partners held more than 50% of the stock of
the foreign corporation)? If “Yes,” list the ownership percentage by vote and by value. See instructions.
Percentage: By Vote By Value x
DAA Form 1065 (2020)
INDEX NO. EF2022-0516
NYSCEF. DOC. _N RECEIVED NYSCEF: 02/02/2024
Other AND AMICI LLC ee.
12024-02301 Partners' Distributive Share Items Index # EF2022-0516
1 Ordinary business income (loss) (page 1, line 22)
2 Net rental real estate income (loss) (attach Form 8825) 2 544,674
3a Other gross rental income (loss) 3a
b Expenses from other rental activities (attach statement) 3b
c Other net rental income (loss). Subtract line 3b from line 3a 3c
4 Guaranteed payments: a Services 4a b Capital | 4b |
¢ Total. Add lines 4a and 4b 4c
5 Interest income
Dividends and dividend equivalents: a Ordinary dividends
b Qualified dividends 6b Dividend equivalents|_6¢
Royalties
Net short-term capital gain (loss) (attach Schedule D (Form 1065)
9a Net long-term capital gain (loss) (attach Schedule D (Form 1065)) ga
Collectibles (28%) gain (loss) 9b
Unrecaptured section 1250 gain (attach statement) 9c
10 Net section 1231 gain (loss) (attach Form 4797) 10
1 Other income (loss) (see instructions) Type > 141
12 Section 179 deduction (attach Form 4562) 12
I 13a Contributions 13a
investment interest expense 13b.
‘Section 59(e)(2) expencitures:(1) Type > (2) AmountP | 43012)
Other deductions (see instructions) Type P 13d
14a Net eamings (loss) from self-employment 14a
oe
ES
Gross farming or fishing income 14b
we Gross nonfarm income 14c
15a Low-income housing credit (section 42()(5)) 1a
Low-income housing credit (other) 15b
Qualified rehabilitation expenditures (rental real estate) (attach Form 3468, if applicable) 15c
Other rental real estate credits (see instructions) Type > 15d
Other rental credits (see instructions) Type > 15e
Other credits (see instructions) Type > 15f
16a Name of country or U.S, possession P
Gross income from all sources 16b
Gross income sourced at partner level 16¢
Foreign gross income sourced at partnership level
Reserved for future use > e Foreign branch category > 16e
Passive category g General categoryP Th Other (att. statement) > 16h
Deductions allocated and apportioned at partner level
Interest expense > I Other > 16)
Deductions allocated and apportioned at partnership level to foreign source income
a Reserved for future use D> I Foreign branch category >» 161
Passive category > n General category > o Other > 160
Total foreign taxes (check one): B Paid [_] Accrued 16p
Reduction in taxes available for credit (attach statement) 16q
Other foreign tax information (attach statement)
17a Post-1986 depreciation adjustment 17a =26,875
or Adjusted gain or loss 17b
Z £2 Depletion (other than oil and gas) 17c
Oil, gas, and geothermal properties — gross income 17d
|Ee
gs Oil, gas, and geothermal properties — deductions 17e
Sc Other AMT items (attach statement) 17£
18a Tax-exempt interest income 18a
Other tax-exempt income 18b.
Nondeductible expenses 18
19a Distributions of cash and marketable securities 19a 411,600
Distributions of other property 19b
20a Investment income 20a
b Investment expenses 20b
c Other items and amounts (attach statement) SEE STATEMENT 1
DAA Form 1065 (2020
INDEX NO. EF2022-0516
Ba0510717 RECEIVED NYSCEF: 02/02/2024
NYSCEF DOC. .NQin3on AND AMICI LLC
12024-02301 et Income (Loss) Index # EF2022-0516
4 Net income (loss). Combine Schedule K, lines 1 through 41. From the result, subtract the sum of Schedule K, lines 12 through 13d, and t6p] 14 244,018
2 Analysis by (ii) Individual (iii) Individual (v) Exempt (vi)
(i) Corporate (active) (iv) Partnership
partner type: (passive) Organization Nominee/Other
a General partners
Limited _partners 544,674
Se hedule L Balance Sheets per Books
Assets (a)
Beginning of tax year
(b) (c)
End of tax year
(d)
Cash 863,949 1,043,344
2a Trade notes and accounts receivable
Less allowance for bad debts
Inventories
U.S. government obligations
Tax-exempt securities
Other current assets
(attach statement!)
Ta Loans to partners (or persons related to partners)
Mortgage and real estate loans
Other investments
{attach statement)
9a Buildings and other depreciable assets 2,794,897 2,794,897
Less accumulated depreciation 2,565,416 229,481 2,608,964 185,933
10a Depletable assets
Less accumulated depletion
1 Land (net of any amortization)
12a Intangible assets (amortizable only)
Less accumulated amortization
13 Other assets
(attach statement)
14 Total assets 1,093,430 [1,229,277
Liabilities and Capital
15 Accounts payable
16 Mortgages, notes, bonds payable in less than 1 year
17 Other current liabilities
(attach statement)
18 All nonrecourse loans
19a Loans from partners (or persons related to partners)
Mortgages, notes, bonds payable in 1 year or more
20 ther liabilities SEE STMT 2 158,736 161,509
(attach statement)
21 Partners’ capital accounts 934,694 |__1, 067,768
22 Total liabilities and capital 1,093,430 1,229,277
Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return
Note: The partnership may be required to file Schedule M-3. See instructions.
Net income (loss) per books. 544,674\6 Income recorded on books this year not included
Income included on Schedule K, lines 1, 2, 3c, ‘on Schedule K, lines 1 through 11 (itemize):
5, 6a, 7, 8, 9a, 10, and 11, not recorded on a Tax-exempt interest $
books this year
(itemize):
Guaranteed payments (other than health insurance) Deductions included on Schedule K, lines 4 through 434,
Ex nses recorded on books this year not ‘and 16p, not charged against book income this year (lerize):
included on Schedule K, lines 1 through
43d, and 16p (itemize): Depreciation $
Depreciation $
Travel and
entertainment $
8 Add lines 6 and 7
Income (loss) (Analysis of Net Income
5 _ Add lines 1 through 4 544,674 ° (Loss), line 1). Subtract line 8 from line 5 544,674
Schedule M-2 Analysis of Partners' Capital Accounts
1 Balance at beginning of year 934 ,694|6 Distributions: a Cash 411,600
2 Capital contributed: a Cash b Property
b Property
544,674|7 Other decreases
Net income (loss) per books
Other increases:
(itemize):
(lemizey
Add lines 6 and 7 411,600
Add lines 1 through 4 1,479,368 3 Balance at end of year. Subtract line 8 from line 5 1,067,768
DAA Form 1065 (2020)
INDEX NO. EF2022-0516
NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024
12024-02301 5 Rental Real Estate Income and Expenses ofa Index # EF2022-0516
tone --— Partnership or an S Corporation OME No. 1>4D-U1Z5
(Rev. November 2018)
Department of the Treasury > Attach to Form 1065 or Form 1120S.
> Go to www.irs.gov/Form8825 for the latest information.
Intemal Revenue Service
Name Employer identification number
MAZZA AND AMICI LLC m0 717
1 Show the type and address of each property. For each rental real estate property listed, report the number of days rented at fair
rental value and days with personal use. See instructions. See page 2 to list additional properties.
Type—Enter code 1-8;
Physical address of each property—street, city, state,
ZIP code see page 2 for list Fair Rental Days Personal Use Days
115 PROSPECT STREET
115 PROSPECT STREET
ITHACA 14580 2
MULTI-FAM RESIDENCE 366
117 PROSPECT STREET
117 PROSPECT STREET
ITHACA NY 14580 2
MULTI-FAM RESIDENCE 366
201 PLEASANT STREET
201 PLEASANT STREET
ITHACA NY 14580 2
MULTI-FAM RESIDENCE 366
210 DELAWARE STREET
210 DELAWARE STREET
ITHACA 14580 2
MULTI-FAM RESIDENCE 366
Properties
Rental Real Estate Income
Gross rents “is, 099 “34,543 55,653 154,599
Rental Real Estate Expenses
Advertising
Auto and travel
Cleaning and maintenance 803 5,310 2,624 4,677
Commissions
Insurance 1,198 763 750 5,255
Legal and other professional fees
Interest (see instructions)
10 Repairs 10
1 Taxes 41 7,789 4,985 5,630 34,802
12 Utilities 12 839 1,377 1,270 6,873
13 Wages and salaries 13
14 Depreciation (see instructions) 14 27 25 348 15,077
15 Other (list)
SEE STMT 3,4,5,6 15 6,713 3,713 3,527 23,012
16 Total expenses for each property.
Add lines 3 through 15 16 17,369 16,173 14,149 89,696
17 Income or (loss) from each property.
Subtract line 16 from line 2 7 27,730 8,770 9,544 64,903
18a Total gross rents. Add gross rents from line 2, columns A through H 18a 1,154,756
Total expenses, Add total expenses from line 16, columns A through H 18b 610, 082)
19 Net gain (loss) from Form 4797, Part Il, ine 17, from the disposition of property from rental real
estate activities 19
20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which
this partnership or S corporation is a partner or beneficiary (from Schedule K-1) 20a
Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line
20a. Attach a schedule if more space is needed.
(1) Name (2). Employer identfication number
241 Net rental real estate income (loss). Combine lines 18a through 20a. Enter the result here and on: 24 544,674
@ Form 1065 or 1120S: Schedule K, line 2
For Paperwork Reduction Act Notice, see instructions. Form 8825 (Rev. 11-2018)
DAA
INDEX NO. EF2022-0516
NYSCEF DOC. NO. 32
Preview
INDEX NO. EF2022-0516 NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024 12024-02301 Index #: EF2022-0516 EXHIBIT “F” = INDEX NO. EF2022-0516 NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024 12024-02301 Index # EF2022-0516 U.S. Return of Partnership Income rom TU65 OMB No. 1545.0123 Department of the Treasury Internal Revenue Service For calendar year 2020, or tax year beginning > Go to www.irs.gov/Form1065 for instructions and the latest information. ending 2020 A Principal business activity Name of partnership D Employer identification number RENTAL MAZZA AND AMICI LLC ue 0717 B Principal product or service Type Number, street, and room or suite no. If a P.O. box, see instructions. Date business started RENTAL Print 307 _N. TIOGA STREET 01/01/2012 Total asseis c Business code number City or town, stale or province, country, and ZIP or foreign postal code (see instructions) ITHACA NY 14580 $ 1,229,277 531110 Check applicable boxes: Check accounting method: (1) [X} Cash (1) E Initial return (2) (2) H Final return Accrual (3) (3) Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year Name change (4) [_] Address change Other (specify) > (6) [_] Amended return Check if Schedules C and M-3 are attached >O Check if partnership: (1) [ ] Aggregated activities for section 465 at-risk purposes (2) [| Grouped activities for section 469 passive activity purposes Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information. ta Gross receipts or sales fa b Returns and allowances 1b c Balance. Subtract line 1b from line 1a de Cost of goods sold (attach Form 1125-A) Gross profit. Subtract line 2 from line 1¢ Ordinary income (loss) from other partnerships, estates, and trusts (attach statement) Net farm profit (loss) (attach Schedule F (Form 1040)) Net gain (loss) from Form 4797, Part ll, line 17 (attach Form 4797) Other income (loss) (attach statement) Total income (loss). Combine lines 3 through 7 Salaries and wages (other than to partners) (less employment credits) 10 Guaranteed payments to partners 10 11 Repairs and maintenance 11 12 Bad debts 12 13 Rent 13 14 Taxes and licenses 14 15 Interest (see instructions) 15 16a Depreciation (if required, attach Form 4562) 16a 43,548 Less depreciation reported on Form 1125-A and elsewhere on return 16b 43,548 16c 17 Depletion (Do not deduct oil and gas depletion.) 17 3 18 Retirement plans, etc. 18 19 419 Employee benefit programs 20 Other deductions (attach statement) 20 21 Total_deductions. Add the amounts shown in the far right column for lines 9 through 20 21 22 Ordinary business income (loss). Subtract line 21 from line 8 22 23 Interest due under the look-back method—completed long-term contracts (attach Form 8697) 23 24 Interest due under the look-back method—income forecast method (attach Form 8866) 24 25 BBA AAR imputed underpayment (see instructions) 25 26 Other taxes (see instructions) 26 27 Total balance due. Add lines 23 through 26 27 28 Payment (see instructions) 28 29 Amount owed. If line 28 is smaller than line 27, enter amount owed 29 30 Overpayment. If line 28 is larger than line 27, enter se 30 Under penalties of perjury, | declare that | have examined this retum, incl ing schedules and statements, and to the best of my knowledge Sign and belief, itis true, correct, and jete” Declaration of preparer (other than partner or imited liabily compary member) is based on all information May the IRS discuss this relurn lof which preparer has any knowledge, D Here with the preparer mn below? instructions. Yes ET. ve ‘Signature of partner or limited labiily company member Prin/Type preparer’s name Preparer’s signature Check it PTIN Paid DAVID W. SPRAGUE [DAVID W. SPRAGUE 02/27/21 self-employed 00001133 Preparer Ficn’s name > SPRAGUE & JACKSON Fis END 6S 88.40 Use Only] Finr’s address > 121 E SENECA ST ITHACA, NY 14850-4308 Phone no. 607-273-5322 For Paperwork Reduction Act Notice, see separate instructions. Form 1065 (2020) DAA = INDEX NO. EF2022-0516 NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024 12024-02301 | MAZZA AND AMICI LLC GE 717 Index # EF2022-0516 Schedule B Other Information 1 What type of entity is filing this return? Check the applicable box: Yes | No a Domestic general partnership b Domestic limited partnership c Domestic limited liability company d Domestic limited liability partnership e Foreign_partnership f Other > At the end of the tax year: ee Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax- ‘exempt organization, or any foreign government own, directly or indirectly, an interest of 50% or more in the profit loss, or capital of the partnership? For rules of constructive ownership, see instructions. If “Yes,” attach Schedule B-1, Information on Partners Owning 50% or More of the Partnership Did any individual or estate own, directly or indirectiy, an interest of 50% or more in the profit, loss, or capital of the partnership? For rules of constructive ownership, see instructions. If “Yes,” attach Schedule B-1, Information on Partners Owning 50% or More of the Partnership At the end of the tax year, did the partnership: ‘Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation? For rules of constructive ownership, see instructions. lé"Yes," complete (i) through (iv) below x (iv) Percentage i) Name of Corporation (ii) Employer Identification (il) Country of ‘Owned in Voting Number (if any) Incorporation Stock b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below x (ii) Employer {iv) Country of (v) Maximum (i) Name of Entity Identification (iil) Type of Percentage Owned in Number (if any) Entity Organization Profit, Loss, or Capital Does the partnership satisfy all four of the following conditions? Yes | No The partnership's total receipts for the tax year were less than $250,000. The partnership's total assets at the end of the tax year were less than $1 million. Schedules K-1 are filed with the return and furnished to the partners on or before the due date (including extensions) for the partnership return. The partnership is not filing and is not required to file Schedule M-3 if "Yes," the partnership is not required to complete Schedules L, M-1, and M-2; item F on page 1 of Form 1065; or item L on Schedule K-1 Is this partnership a publicly traded partnership as defined in section 469(k)(2)? During the tax year, did the partnership have any debt that was canceled, was forgiven, or had the terms modified so as to reduce the principal amount of the debt? Has this partnership filed, or is it required to file, Form 8918, Material Advisor Disclosure Statement, to provide information on any reportable transaction? At any time during calendar year 2020, did the partnership have an interest in or a signature or other authority over a financial account in a foreign country (such as a bank account, securities account, or other financial account)? See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If “Yes,” enter the name of the foreign country At any time during the tax year, did the partnership receive a distribution from, or was it the grantor of, or transferor to, a foreign trust? If “Yes,” the partnership may have to file Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. See instructions 10a Is the partnership making, or had it previously made (and not revoked), a section 754 election? See instructions for details regarding a section 754 election. ee ae Did the partnership make for this tax year an optional basis adjustment under section 743(b) or 734(b)? If "Yes,” attach a statement showing the computation and allocation of the basis adjustment. See instructions x Form 1065 (2020) DAA INDEX NO. EF2022-0516 NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024 12024-02301 . MAZZA AND AMICI LLC Ga 717 Index# EF2022-0516 Schedule B Other Information (continued) c {s the partnership required to adjust the basis of partnership assets under section 743(b) or 734(b) because of a Yes | No substantial built-in loss (as defined under section 743(d)) or substantial basis reduction (as defined under section 734(d))? If "Yes," attach a statement showing the computation and allocation of the basis adjustment. See instructions x 1 Check this box if, during the current or prior tax year, the partnership distributed any property received in a like- kind exchange or contributed such property to another entity (other than disregarded entities wholly owned by the partnership throughout the tax year) >t] 12 At any time during the tax year, did the partnership distribute to any partner a tenancy-in-common or other undivided interest in partnership property? 13 If the partnership is required to file Form 8858, Information Return of U.S. Persons With Respect To Foreign Disregarded Entities (FDEs) and Foreign Branches (FBs), enter the number of Forms 8858 attached. See instructions 14 Does the partnership have any foreign partners? If "Yes," enter the number of Forms 8805, Foreign Partner's Information Statement of Section 1446 Withholding Tax, filed for this partnership 15 Enter the number of Forms 8865, Retum of U.S. Persons With Respect to Certain Foreign Partnerships, attached to this return 16a Did you make any payments in 2020 that would require you to file Form(s) 1099? See instructions If "Yes," did you or will you file required Form(s) 10997 17 Enter the number of Form(s) 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations, attached to this return 18 Enter the number of partners that are foreign governments under section 892 19 During the partnership's tax year, did the partnership make any payments that would require it to file Form 1042 and 1042-S under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474)? 20 Was the partnership a specified domestic entity required to file Form 8938 for the tax year? See the Instructions for Form 8938 21 ls the partnership a section 721(c) partnership, as defined in Regulations section 1.721(c)-1(b)(14)? 22 During the tax year, did the partnership pay or accrue any interest or royalty for which one or more partners are not allowed a deduction under section 267A? See instructions If"Yes,” enter the total amount of the disallowed deductions > Ss 23 Did the partnership have an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year? See instructions 24 Does the partnership satisfy one or more of the following? See instructions ‘The partnership owns a pass-through entity with current, or prior year carryover, excess business interest expense. The partnership's aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the current tax year are more than $26 million and the partnership has business interest. The partnership is a tax shelter (see instructions) and the partnership has business interest expense. If "Yes" to any, complete and attach Form 8990. 25 Is the partnership electing out of the centralized partnership audit regime under section 6221(b)? See instructions. If “Yes,” the partnership must complete Schedule B-2 (Form 1065). Enter the total from Schedule B-2, Part Ill, line 3 If "No," complete Designation of Partnership Representative below. Designation of Partnership Representative (see instructions) Enter below the information for the partnership representative (PR) for the tax year covered by this return. Name of PR > EDWARD MAZZA us. of PR > 307 N. TIOGA STREET USS. phone number of ITHACA NY_ 14850 PR > 607-273-6000 Ifthe PR is an entity, name of the designated individual for the PR_ D> US. address of, U.S, phone number of designated individual designaled individual 26 Is the partnership attaching Form 8996 to certify as a Qualified Opportunity Fund? If "Yes," enter the amount from Form 8996, line 16 > ¢ 27 Enter the number of foreign partners subject to section 864(c)(8) as a result of transferring all or a portion of an interest in the partnership or of receiving a distribution from the partnership 28 ‘At any time during the tax year, were there any transfers between the partnership and its partners subject to the disclosure requirements of Regulations section 1.707-8? 29 Since December 22, 2017, did a foreign corporation directly or indirectly acquire substantially all of the properties constituting a trade or business of your partnership, and was the ownership percentage (by vote or value) for purposes of section 7874 greater than 50% (for example, the partners held more than 50% of the stock of the foreign corporation)? If “Yes,” list the ownership percentage by vote and by value. See instructions. Percentage: By Vote By Value x DAA Form 1065 (2020) INDEX NO. EF2022-0516 NYSCEF. DOC. _N RECEIVED NYSCEF: 02/02/2024 Other AND AMICI LLC ee. 12024-02301 Partners' Distributive Share Items Index # EF2022-0516 1 Ordinary business income (loss) (page 1, line 22) 2 Net rental real estate income (loss) (attach Form 8825) 2 544,674 3a Other gross rental income (loss) 3a b Expenses from other rental activities (attach statement) 3b c Other net rental income (loss). Subtract line 3b from line 3a 3c 4 Guaranteed payments: a Services 4a b Capital | 4b | ¢ Total. Add lines 4a and 4b 4c 5 Interest income Dividends and dividend equivalents: a Ordinary dividends b Qualified dividends 6b Dividend equivalents|_6¢ Royalties Net short-term capital gain (loss) (attach Schedule D (Form 1065) 9a Net long-term capital gain (loss) (attach Schedule D (Form 1065)) ga Collectibles (28%) gain (loss) 9b Unrecaptured section 1250 gain (attach statement) 9c 10 Net section 1231 gain (loss) (attach Form 4797) 10 1 Other income (loss) (see instructions) Type > 141 12 Section 179 deduction (attach Form 4562) 12 I 13a Contributions 13a investment interest expense 13b. ‘Section 59(e)(2) expencitures:(1) Type > (2) AmountP | 43012) Other deductions (see instructions) Type P 13d 14a Net eamings (loss) from self-employment 14a oe ES Gross farming or fishing income 14b we Gross nonfarm income 14c 15a Low-income housing credit (section 42()(5)) 1a Low-income housing credit (other) 15b Qualified rehabilitation expenditures (rental real estate) (attach Form 3468, if applicable) 15c Other rental real estate credits (see instructions) Type > 15d Other rental credits (see instructions) Type > 15e Other credits (see instructions) Type > 15f 16a Name of country or U.S, possession P Gross income from all sources 16b Gross income sourced at partner level 16¢ Foreign gross income sourced at partnership level Reserved for future use > e Foreign branch category > 16e Passive category g General categoryP Th Other (att. statement) > 16h Deductions allocated and apportioned at partner level Interest expense > I Other > 16) Deductions allocated and apportioned at partnership level to foreign source income a Reserved for future use D> I Foreign branch category >» 161 Passive category > n General category > o Other > 160 Total foreign taxes (check one): B Paid [_] Accrued 16p Reduction in taxes available for credit (attach statement) 16q Other foreign tax information (attach statement) 17a Post-1986 depreciation adjustment 17a =26,875 or Adjusted gain or loss 17b Z £2 Depletion (other than oil and gas) 17c Oil, gas, and geothermal properties — gross income 17d |Ee gs Oil, gas, and geothermal properties — deductions 17e Sc Other AMT items (attach statement) 17£ 18a Tax-exempt interest income 18a Other tax-exempt income 18b. Nondeductible expenses 18 19a Distributions of cash and marketable securities 19a 411,600 Distributions of other property 19b 20a Investment income 20a b Investment expenses 20b c Other items and amounts (attach statement) SEE STATEMENT 1 DAA Form 1065 (2020 INDEX NO. EF2022-0516 Ba0510717 RECEIVED NYSCEF: 02/02/2024 NYSCEF DOC. .NQin3on AND AMICI LLC 12024-02301 et Income (Loss) Index # EF2022-0516 4 Net income (loss). Combine Schedule K, lines 1 through 41. From the result, subtract the sum of Schedule K, lines 12 through 13d, and t6p] 14 244,018 2 Analysis by (ii) Individual (iii) Individual (v) Exempt (vi) (i) Corporate (active) (iv) Partnership partner type: (passive) Organization Nominee/Other a General partners Limited _partners 544,674 Se hedule L Balance Sheets per Books Assets (a) Beginning of tax year (b) (c) End of tax year (d) Cash 863,949 1,043,344 2a Trade notes and accounts receivable Less allowance for bad debts Inventories U.S. government obligations Tax-exempt securities Other current assets (attach statement!) Ta Loans to partners (or persons related to partners) Mortgage and real estate loans Other investments {attach statement) 9a Buildings and other depreciable assets 2,794,897 2,794,897 Less accumulated depreciation 2,565,416 229,481 2,608,964 185,933 10a Depletable assets Less accumulated depletion 1 Land (net of any amortization) 12a Intangible assets (amortizable only) Less accumulated amortization 13 Other assets (attach statement) 14 Total assets 1,093,430 [1,229,277 Liabilities and Capital 15 Accounts payable 16 Mortgages, notes, bonds payable in less than 1 year 17 Other current liabilities (attach statement) 18 All nonrecourse loans 19a Loans from partners (or persons related to partners) Mortgages, notes, bonds payable in 1 year or more 20 ther liabilities SEE STMT 2 158,736 161,509 (attach statement) 21 Partners’ capital accounts 934,694 |__1, 067,768 22 Total liabilities and capital 1,093,430 1,229,277 Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return Note: The partnership may be required to file Schedule M-3. See instructions. Net income (loss) per books. 544,674\6 Income recorded on books this year not included Income included on Schedule K, lines 1, 2, 3c, ‘on Schedule K, lines 1 through 11 (itemize): 5, 6a, 7, 8, 9a, 10, and 11, not recorded on a Tax-exempt interest $ books this year (itemize): Guaranteed payments (other than health insurance) Deductions included on Schedule K, lines 4 through 434, Ex nses recorded on books this year not ‘and 16p, not charged against book income this year (lerize): included on Schedule K, lines 1 through 43d, and 16p (itemize): Depreciation $ Depreciation $ Travel and entertainment $ 8 Add lines 6 and 7 Income (loss) (Analysis of Net Income 5 _ Add lines 1 through 4 544,674 ° (Loss), line 1). Subtract line 8 from line 5 544,674 Schedule M-2 Analysis of Partners' Capital Accounts 1 Balance at beginning of year 934 ,694|6 Distributions: a Cash 411,600 2 Capital contributed: a Cash b Property b Property 544,674|7 Other decreases Net income (loss) per books Other increases: (itemize): (lemizey Add lines 6 and 7 411,600 Add lines 1 through 4 1,479,368 3 Balance at end of year. Subtract line 8 from line 5 1,067,768 DAA Form 1065 (2020) INDEX NO. EF2022-0516 NYSCEF DOC. NO. 32 RECEIVED NYSCEF: 02/02/2024 12024-02301 5 Rental Real Estate Income and Expenses ofa Index # EF2022-0516 tone --— Partnership or an S Corporation OME No. 1>4D-U1Z5 (Rev. November 2018) Department of the Treasury > Attach to Form 1065 or Form 1120S. > Go to www.irs.gov/Form8825 for the latest information. Intemal Revenue Service Name Employer identification number MAZZA AND AMICI LLC m0 717 1 Show the type and address of each property. For each rental real estate property listed, report the number of days rented at fair rental value and days with personal use. See instructions. See page 2 to list additional properties. Type—Enter code 1-8; Physical address of each property—street, city, state, ZIP code see page 2 for list Fair Rental Days Personal Use Days 115 PROSPECT STREET 115 PROSPECT STREET ITHACA 14580 2 MULTI-FAM RESIDENCE 366 117 PROSPECT STREET 117 PROSPECT STREET ITHACA NY 14580 2 MULTI-FAM RESIDENCE 366 201 PLEASANT STREET 201 PLEASANT STREET ITHACA NY 14580 2 MULTI-FAM RESIDENCE 366 210 DELAWARE STREET 210 DELAWARE STREET ITHACA 14580 2 MULTI-FAM RESIDENCE 366 Properties Rental Real Estate Income Gross rents “is, 099 “34,543 55,653 154,599 Rental Real Estate Expenses Advertising Auto and travel Cleaning and maintenance 803 5,310 2,624 4,677 Commissions Insurance 1,198 763 750 5,255 Legal and other professional fees Interest (see instructions) 10 Repairs 10 1 Taxes 41 7,789 4,985 5,630 34,802 12 Utilities 12 839 1,377 1,270 6,873 13 Wages and salaries 13 14 Depreciation (see instructions) 14 27 25 348 15,077 15 Other (list) SEE STMT 3,4,5,6 15 6,713 3,713 3,527 23,012 16 Total expenses for each property. Add lines 3 through 15 16 17,369 16,173 14,149 89,696 17 Income or (loss) from each property. Subtract line 16 from line 2 7 27,730 8,770 9,544 64,903 18a Total gross rents. Add gross rents from line 2, columns A through H 18a 1,154,756 Total expenses, Add total expenses from line 16, columns A through H 18b 610, 082) 19 Net gain (loss) from Form 4797, Part Il, ine 17, from the disposition of property from rental real estate activities 19 20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which this partnership or S corporation is a partner or beneficiary (from Schedule K-1) 20a Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line 20a. Attach a schedule if more space is needed. (1) Name (2). Employer identfication number 241 Net rental real estate income (loss). Combine lines 18a through 20a. Enter the result here and on: 24 544,674 @ Form 1065 or 1120S: Schedule K, line 2 For Paperwork Reduction Act Notice, see instructions. Form 8825 (Rev. 11-2018) DAA INDEX NO. EF2022-0516 NYSCEF DOC. NO. 32