41 . Because it was anticipated that Bob Short would devote more time to the partnership than would his equal partner Jack Long , it was agreed that Bob would receive a " salary ' of $12, 000 per year . Bob and Jack agreed to divide the remaining partnership income equally . For the current year , prior to consideration of Bob's salary , the partnership income was composed of $6, 000 long-term capital gain , $2, 000 tax - exempt interest , and $8 , 000 loss from operations . Determine the amount and character of income ( loss ) reportable by Bob and Jack for the current year