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Net profits allocable to the Net Profits Interest were $6,312,156, compared to $2,850,857 in the previous year, with the increase attributed to higher oil and natural gas sales.—Quartz Bot, Quartz, 14 Nov. 2024 On December 9, 2013 TOT owned 652 acres that its original partners had acquired for $486,000 (an allocable portion of a larger transaction) in 2005.—Peter J Reilly, Forbes, 25 June 2021 However, the definition of wages continues to state that the amount cannot include any amount which is not properly allocable to qualified business income.—Lynn Mucenski Keck, Forbes, 14 Mar. 2022 The distribution of property treatment does not exceed the sum of the distributees’ allocable share of the undistributed PHC income for the year, computed without regard to section 316(b)(2) or section 562(b).—Carrie Brandon Elliott, Forbes, 3 Oct. 2022
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