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Tax consequences for christie

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Christie purchases a one-third interest in the Corporate Capital Partnership (CCP) in 2009 for $40,000. During 2009, CCP earns an income of $90,000, and Christie withdraws $30,000 in cash from the partnership. In 2010, CCP suffers a loss of $30,000, and Christie withdraws $10,000. What are the tax consequences for Christie of this investment in 2009 and 2010?

Reference no: EM13149005

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