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:

Self-Efficacy Expectations

Beliefs in one's ability to successfully execute the behaviors required to produce specific performance attainments.

Biological

Pertaining to the science of life and living organisms, focusing on their structure, function, growth, origin, evolution, and distribution.

White Blood Cells

Cells of the immune system involved in defending the body against both infectious disease and foreign materials.

Antigens

Substances that stimulate the body to mount an immune system response to it (short for antibody generator).