Determine the types and amounts of income that Paul and John must report as a result of the sales of partnership interest, based on information included in the exhibits.

Select from the option list provided the type of income that Paul and John must report. Each choice may be used once, more than once, or not at all.

Then, enter the appropriate amount in the associated cell for each item. If the amount is zero, enter a zero (0). Round all amounts to the nearest whole dollar.

	Type	Amount
1.-2. Paul
3.-4. John

  
 

Select an option below Short-term capital gain O Short-term capital loss O Long-term capital gain O Long-term capital loss O Ordinary income RESET CANCEL ACCEPT