The ID Partnership Has Two Partners

The ID Partnership has two partners. Partner I, because he is actively managing the partnership, receives an annual salary of $42,000. Because Partner D has contributed most of the capital for the business, he receives an interest allocation of $17,000. The partnership agreement calls for the remaining profits, and all other allocations, to be split 55 percent to I and 45 percent to D. The salary and interest amounts are deducted in the determination of accounting Net Income and withdrawn by the partners during the year.
During the taxation year ending December 31, 2020, the partnership's accounting Net Income is $312,000. Other relevant information is as follows:
• The accountant deducted amortization charges of $41,000. Maximum CCA is $63,000.
• Accounting Net Income includes a deduction for charitable donations of $4,200.
• Accounting Net Income includes a gain on the sale of land of $31,000.
Determine the amounts of Net Business Income that will be allocated to Partner I and Partner D for the year ending December 31, 2020.