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Mandarini Mandarini
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7 years ago
The STU Partnership, an electing Large Partnership, has no passive activities and reports the following transactions for the year: net long-term capital losses $50,000, Sec. 1231 gain $60,000, ordinary income $20,000, charitable contributions $15,000, and tax-exempt income $2,000. How much will be reported as ordinary income to its partners?
A) $5,000
B) $17,000
C) $20,000
D) $22,000
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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strwbrrystrwbrry
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7 years ago
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Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.
   --Bertrand Russell, 1950

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Mandarini Author
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7 years ago
this is exactly what I needed
Danivalda
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Yesterday
Correct Slight Smile TY
vanna2014
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2 hours ago
Smart ... Thanks!
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