Allocation of Profit and Loss for Federal Income Tax Purposes. As of the end of each fiscal year, the Fund’s income and expense and capital gain or loss shall be allocated among the Partners pursuant to the following provisions of this Section 7(b) for federal income tax purposes. For purposes of this Section 7(b), capital gain and capital loss shall be allocated separately and not netted.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Ml Select Futures I Lp), Limited Partnership Agreement (Ml Select Futures I Lp), Limited Partnership Agreement (Ml Select Futures I Lp)
Allocation of Profit and Loss for Federal Income Tax Purposes. As of the end of each fiscal year, the Fund’s 's income and expense and capital gain or loss shall be allocated among the Partners pursuant to the following provisions of this Section 7(b) for federal income tax purposes. For purposes of this Section 7(b), capital gain and capital loss shall be allocated separately and not netted.
Appears in 1 contract
Samples: Agreement (Ml Select Futures I Lp)
