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:

Validity

The extent to which a test, tool, or method accurately measures what it's intended to measure.

Thematic Apperception Test

A projective psychological test wherein individuals express their thoughts and feelings through stories they create about ambiguous images.

TAT

Thematic Apperception Test, a psychological assessment tool in which subjects create stories based on ambiguous images, used to reveal their underlying emotions, attitudes, and patterns of thought.

Thematic Apperception Test

A projective psychological test where subjects are shown pictures and asked to create a story, revealing their underlying motives, feelings, and attitudes.