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  3. 4. at the beginning of the current year, corporati

4. At the beginning of the current year, Corporation M had a $50,000 basis in...

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Accounting

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4. At the beginning of the current year, Corporation M had a $50,000 basis in its 50% interest in the M&N Partnership. For the year, M&N incurred a $168,000 net operating loss and a $32.000 capital loss and received $20,000 of dividend income. The amount of the partnership's debts did not change during the year and it made no distributions to its partners. Based on these facts. what amount of M&N's ordinary loss and capital loss may M recognize during the current year? A. $42,000 ordinary loss and $8,000 capital loss B. $50,000 ordinary loss C. $50,400 ordinary loss and $9,600 capital loss D. $54,000 ordinary loss and $16,000 capital loss E. $60,000 ordinary loss

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