ordinary income
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Free Inquiry Aston and Becker are equal partners in AB Partnership. In the tax year, the ordinary income of the partnership is $20,000, and the partnership has a long-term capital gain of $12,000. Aston’s basis in AB was $40,000, and he received distributions of $5,000 during the year. What is Aston’s share of
AB’s ordinary income?
A.$10,000
B.$15,000
C.$16,000
D.$18,500
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