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What is the character of the section gain to the partners

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Reference no: EM133031581

Question - Bevo Partnership had the following financial activity for the year: Gross receipts from sales $860,000

Cost of goods sold (390,000)

Operating expenses (180,000)

Business meals and entertainment (20,000)

Section 1231 gain on equipment sale 5,000

Distribution to partners (75,000)

Required - What is the character of the Section 1231 gain to the partners?

Reference no: EM133031581

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