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Interest in corporate capital partnership

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Reference no: EM13152476

Christie purchases a one-third interest in the Corporate Capital Partnership (CCP) in 2006 for $40,000. During 2006, CCP earns an income of $90,000, and Christie withdraws $30,000 in cash from the partnership. In 2007, CCP suffers a loss of $30,000, and Christie withdraws $10,000. What are the tax consequences for Christie of this investment in 2006 and 2007?

Reference no: EM13152476

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