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Unformatted text preview: 1231 Gain 21,000 1245 gain 20,000 STCL from sale of stock 6,000 LTCL from sale of stock 4,000 LTCG from sale of stock 15,000 Charitable Contribution 4,500 Distributions to Partners* 10,000 *Sammy received $2,500. PART I (1) Compute SG's (A) Ordinary income and (B) Separately Stated Items. (2) What would Sammy report on his 2009 individual tax return as a result of SG activities? PART II Compute Sammy's basis at the end of 2009....
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This note was uploaded on 08/25/2010 for the course TAX 4001 taught by Professor Hampton,m during the Fall '08 term at University of Central Florida.
- Fall '08