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DDP Partnership reported gross income from operations of $ 1 2 5 , 0 0 0 , a long - term capital gain of $

DDP Partnership reported gross income from operations of $125,000, a long-term capital gain of $5,000, a short-term capital loss of $2,000, and a charitable contribution of $5,000. On its Schedule K, the partnership reports ordinary business incorme of $120,000, and a net long-term capital gain of $3,000.

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