A and B form the AB partnership by contributing ($10,000) each. A and B agree to share
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A and B form the AB partnership by contributing \($10,000\) each.
A and B agree to share profits and losses 75% to A, 25% to B.
In Year 1 of operations, AB had business revenues of \($10,000,\) business expenses of \($14,000\) and a short-term capital loss of \($12,000.\) What are the tax results to A and B?
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Related Book For
Partnership Taxation
ISBN: 9781642428926
9th Edition
Authors: Stephen Schwarz, Daniel Lathrope, Brant Hellwig
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