The STU Partnership, an Electing Large Partnership, Has No Passive

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

Correct Answer:

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