Salix Associates Is a Partnership with an October 31 Year-End

Salix Associates is a partnership with an October 31 year-end. For the fiscal year ended October 31, 2015, Salix Associates reported ordinary income of $100,000, after deducting guaranteed payments. Max, a calendar year taxpayer, is a 30 percent partner in the partnership and received $2,000 monthly as a guaranteed payment for the calendar year 2014, and $2,100 monthly for the calendar year 2015. What is the total income from the partnership that Max should report on his 2015 individual income tax return?

A) $30,000
B) $54,200
C) $55,000
D) $55,200
E) None of the above