Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

Exercise 42

Styron is a partner in Styron, Lee, Jane Partnership. Styron owned 25% from January 1, 2009 to June 30, 2009, when he bought Lee's 25% interest. He owned 50% for the rest of the year. The partnership had ordinary income of $88,000 and $12,000 in long-term capital gains. Barring any special allocations in a partnership agreement, Styron's share of ordinary income for the year is: a. $11,000.
B) $33,000.
C) $88,000.
D) $100,000.