Glen and Glenda are equal partners for all income, gain, deduction, and loss. At the time of the partnership formation, Glenda contributed securities with a basis of $$50,000$ and a value of $$40,000.$ One year after formation, the partnership sells the securities for $$45,000.$ Select the true statements from the list below.

PICK ALL THAT APPLY!

Question $4$ options:

$-$ the partnership has a tax loss of $$5,000$

$-$ the partnership has a tax gain of $$5,000$

$-$ the partnership has a book gain of $$5,000$ and each partner is allocated $$2,500$ of that

$-$ each partner is allocated $$2,500$ of tax gain

$-$ Glenda has an additional tax loss of $$10,000$ to net with her tax gain for an overall tax loss of $$7,500$