Charley is a partner in Charley,Austin,Liz & Bass Partnership.Charley owned 25% from January 1,2017 to April 1,2017 when he bought both Liz's 25% and Bass's 25% interests.He owned 75% for the rest of the year.The partnership had ordinary income of $358,000 and $12,000 in long-term capital gains.Barring any special allocations in a partnership agreement,what is Charley's share of income (assume a 365-day year)?

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The Answer of Charley is a partner in Charley,Austin,Liz & Bass Partnership.Charley owned 25% from January 1,2017 to April 1,2017 when he bought both Liz's 25% and Bass's 25% interests.He owned 75% for the rest of the year.The partnership had ordinary income of $358,000 and $12,000 in long-term capital gains.Barring any special allocations in a partnership agreement,what is Charley's share of income (assume a 365-day year)?

Charley Is a Partner in Charley,Austin,Liz & Bass Partnership