A, B, 8: C of Dutch LLC, a calendar year partnership company, share profits and losses in the ratio of 4:323. respectively. All three materially participate in the partnership business. Each partner‘s adjusted basis in the partnership before distribution at the year end is as follows:
A - $10000 B - $8000 C - $12000
The partnership incurred an operating loss of $30,000 in the CY. Calculate each one's share of loss to be reported on their individual tax returns.
Correct Answer:
$10,000 $8,000 $9,000
Explanation:
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