C and D are partners who share income and losses equally. C has an basis of $5,000 in his partnership and D has an outside basis o $15,000 in her partnership interest. During the current year the partnership has of gross income $40,000 and expenses of $60,000. What are the tax results to C and D? what are the results to C and D in the succeeding year when the partnership has $20,000 of net profits? How might C have alleviated his problem in the first year? What result in (a), above, if the net $20,000 loss consists of $15,000 of ordinary loss and $5,000 of long-term capital loss? what result to S, C's son, in (a), above, if c gives his interest in the partnership to S on the first day of a year in which the partnership has profits of $20,000