Week4_Bancroft

Week4_Bancroft - 45 Realized loss of $4,800. Only $1,800 is...

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32 Both types of payments (the lump sum and the unit payment) receive long-term capital gain treatment. Since Wilson is restricted to selling in the western United States, the payments are treated as ordinary income by Byron. 34 The holding period of the old asset is added, so it begins with the date of the acquistion of the old property. 44 $50,000 ordinary loss deduction and $10,000 LONG-TERM CAPITAL LOSS Realized loss of $60,000, $40,000 is deductible and $20,000 is long-term capital loss.
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Unformatted text preview: 45 Realized loss of $4,800. Only $1,800 is ordinary loss and $3,000 is long-term capital loss. 32 Eah partner includes $20,000 with normal 12 months of income reported on June 30. 34 Form 1129 must be filed on May 15, 2010. $13,917 39 $7000 inc in income 500 None None 700 None 44 This is not a change in accounting methods and doesn't need approval from IRS....
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Week4_Bancroft - 45 Realized loss of $4,800. Only $1,800 is...

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