THE XY PARTNESHIP IS OWNED EQUALLY BY PARTNER X AND PARTNER Y. XY IS A...
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THE XY PARTNESHIP IS OWNED EQUALLY BY PARTNER X AND PARTNER Y. XY IS A CALENDAR YEAR PARTNERSHIP THAT OWNS A COMMERCIAL BUILDING AND RENT TO TENANTS. XY BORROWS 500,000 FROM PARTNER X. PARTNER X COLLECTS 40,00 IN GROSS INCOME CHARGED TO PARTNERSHIP. EACH PARTNER HAS 20,000 INTEREST EXPENSE. WHAT IS PERCENTAGE APPLICABLE TO THE ACTIVITY
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