Juan Diego began the year with a tax basis in his partnership interest of $52,600. During...

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Juan Diego began the year with a tax basis in his partnership interest of $52,600. During the year, he was allocated $21,040 of partnership ordinary business income, $73,640 of $1231 losses, and $31,560 of short-term capital losses and received a cash distribution of $52,600. Note: Do not round intermediate calculations. a. What items related to these allocations does Juan Diego actually report on his tax return for the year? [Hint See Regulations $1. 1(d)(2) and Revenue Rule 66-94.3 51231 losses Short-term capital losses Amount Deducted Currently Juan Diego began the year with a tax basis in his partnership interest of $52,600. During the year, he was allocated $21,040 of partnership ordinary business income, $73,640 of $1231 losses, and $31,560 of short-term capital losses and received a cash distribution of $52,600. Note: Do not round intermediate calculations. a. What items related to these allocations does Juan Diego actually report on his tax return for the year? [Hint See Regulations $1. 1(d)(2) and Revenue Rule 66-94.3 51231 losses Short-term capital losses Amount Deducted Currently