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How must each individual report the results

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Question: Mabel, Loretta, and Margaret are equal partners in a local restaurant. The restaurant reports the following items for the current year:

Revenue $ 490,000

Business expenses
255,000

Investment expenses
124,500

Short-term capital gains
107,000

Short-term capital losses
(151,300)

Each partner receives a Schedule K-1 with one-third of the preceding items reported to her.

How must each individual report these results on her Form 1040?

Reference no: EM131749065

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