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

question 38

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 long-term capital gains to its partners?

• A)$0
• B)$10,000
• C)$50,000
• D)$60,000

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Definitions:

Airway Capacity

Refers to the ability of the respiratory passage to effectively allow air flow in and out of the lungs, vital for breathing and oxygen exchange.

Rehab Therapy

A form of healthcare dedicated to helping individuals recover, improve, or maintain their physical abilities, often following injury or illness.

Evaluation Phase

A stage in a project, program, or process where the outcomes are analyzed to determine if objectives were met.