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Kate owns a 30% interest in partnership ABC, LP. ABC has a taxable loss of...

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Accounting

Kate owns a 30% interest in partnership ABC, LP. ABC has a taxable loss of $100,000 in 2020. ABC distributes $10,000 to Kate on July 15, 2020. What is Kate's income/(Loss) from the partnership? (20,000) 0 (30,000) 10,000

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