The STU Partnership, an Electing Large Partnership, Has No Passive

question 98

Multiple Choice

The STU Partnership, an electing Large Partnership, has no passive activities and reports the following transactions for the year: net long-term capital losses $50,000, Sec. 1231 gain $60,000, ordinary income $20,000, charitable contributions $15,000, and tax-exempt income $2,000. How much will be reported as ordinary income to its partners?

• A)$5,000
• B)$17,000
• C)$20,000
• D)$22,000

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Definitions:

Innovating for Sustainability

Developing new methods, products, or solutions that meet present needs without compromising the ability of future generations to meet theirs, with a focus on environmental conservation.

Renewable Energy Sources

Energy sources that can be replenished naturally, such as solar, wind, hydroelectric, and geothermal.

Opportunities

Chances or prospects for advancement or success in a particular area or endeavor.

Eco-Friendly Adhesive

A type of adhesive designed to minimize environmental impact, often made with natural or less harmful ingredients.