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:

Cultural Fairness

The principle of ensuring that assessments, decisions, and treatments do not favour or discriminate against any culture.

Validity

The extent to which a test, tool, or method accurately measures or evaluates what it is supposed to.

Accuracy

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or standard.

Mainstreaming

The practice of integrating children with special educational needs into regular educational settings, promoting inclusivity and equal opportunities.