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Adam owns interests in partnerships A and B,both of which are Publicly Traded Partnerships.During the current year,Adam's share of the income from A is $12,000.Adam's share of B's loss is $3,500.B also generates portfolio income of which Adam's share is $2,000.What are the tax consequences of these income and loss items?
Knights of Labor
A significant labor organization in the late 19th century United States, known for advocating a broad spectrum of reforms to improve the conditions of workers.
Primary Goals
Fundamental objectives or targets that an individual, group, or organization aims to achieve.
Civil Rights Movement
A social and political movement in the United States during the 1950s and 1960s, aimed at ending racial segregation and discrimination against African Americans.
Labor Movement
A social and political movement advocating for the rights and interests of working people, often through unions and collective bargaining.
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