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:
$\begin{array}{ll}
\text { Net long-term capital loss } & \$ 50,000 \
\text { Net Sec. } 1231 \text { gain } & 45,000 \
\text { Ordinary income } & 110,000
\end{array}$ What is Tracy's distributive share?

Question

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:
 $\begin{array}{ll}
\text { Net long-term capital loss } & \$ 50,000 \
\text { Net Sec. } 1231 \text { gain } & 45,000 \
\text { Ordinary income } & 110,000
\end{array}$ What is Tracy's distributive share?

Quizplus · Accepted Answer

The Answer of 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:
 $\begin{array}{ll}
\text { Net long-term capital loss } & \$ 50,000 \
\text { Net Sec. } 1231 \text { gain } & 45,000 \
\text { Ordinary income } & 110,000
\end{array}$ What is Tracy's distributive share?

Tracy Has a 25% Profit Interest and a 20% Loss