Question: 16. A general partnership operates a small resort area in Florida. Jeb is given the opportunity to receive a capital interest of $500 in the

16. A general partnership operates a small resort area in Florida. Jeb is given the opportunity to receive a capital interest of $500 in the partnership in exchange for managing the resort from October of 2021 through February 2021. If Jeb accepts, what are the tax consequences to him?

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