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05/03/2012
U.S. and State of Ohio Reach $5.5 Million Settlement for Damages from Hazardous Releases in Lower Ashtabula River and Harbor
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05/03/2012
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05/03/2012
Hyosung Corporation Executive Agrees to Plead Guilty to Obstruction of Justice for Submitting False Documents in an ATM Merger Investigation
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05/03/2012
UN highlights role of press freedom as catalyst for social and political change
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05/01/2012
President of Costa Rican Company Convicted in Half a Billion Dollar Fraud Scheme with Thousands of Victims Worldwide
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05/01/2012
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05/01/2012
National Express and Petermann to Sell Off School Bus Contracts in Texas and Washington to Resolve Antitrust Concerns
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05/01/2012
Justice Department Reaches Settlement with Nations Largest Mortgage Insurance Provider to Resolve Allegations of Discrimination Against Women on Maternity Leave
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05/01/2012
Hitachi-LG Data Storage Inc. Executive Agrees to Plead Guilty for Participating in Bid-Rigging Conspiracies Involving Optical Disk Drives
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05/01/2012
Suspect Arrested in Robbery of US Bank Branch in Rockwood
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FAQ / What is the percentage interest in the partnership that should be reported on Form 1065 Schedule B question 3a and 3b under the following facts?

Corporation X owns 1 percent of the profit, loss, and capital of partnership A. The remaining 99 percent is owned by trust T. Jane owns 50 percent of the beneficial interest in trust T. Bill, her brother owns the other 50% of trust T.

A10: Report Trust T as owning, directly or indirectly, 99 percent of the partnership in response to question 3a.

Report Jane and Bill as each owning, directly or indirectly, 99 percent of the partnership in response to question 3b. Jane and Bill each own, indirectly through attribution from Trust T, 49.5 percent of Partnership A’s profit, loss, and capital. This is computed by multiplying Trust T’s 99 percent direct ownership in P by the 50 percent in Trust T owned by Jane and owned by Bill. In addition, Jane and Bill, as brother and sister, each own an additional 49.5 percent indirectly by family attribution from the other.

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