State where would a §1231 loss be entered on the form.

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Chapter 17, Problem 19DQ

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State where would a §1231 loss be entered on the form.

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Juan Diego began the year with a tax basis in his partnership interest of $51,400. During the year, he was allocated $20,560 of partnership ordinary business income, $71,960 of $1231 losses, and $30,840 of short-term capital losses and received a cash distribution of $51,400. Note: Do not round intermediate calculations.

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