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safezone safezone
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7 years ago
Tracy has a 25% profit interest and a 20% loss interest in the Dupont Partnership. The Dupont Partnership reports the following income and loss items for the current year:

Net long-term capital loss   $50,000
Net Sec. 1231 gain   45,000
Ordinary income   110,000

What is Tracy's distributive share?
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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genflynngenflynn
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7 years ago
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More solutions for this book are available here
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We have the most crude accounting tools. It's tragic because our accounts and our national arithmetic doesn't tell us the things that we need to know.

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safezone Author
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7 years ago
Thanks
nsak
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Yesterday
Thanks
decibul
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2 hours ago
Good timing, thanks!
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