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?

Question

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:
Net long-term capital loss $50,000
Net Sec. 1231 gain 45,000
Ordinary income 110,000
What is Tracy's distributive share?

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