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Partner's Distributive Shares: On January of the current year,Becky (20%), Chuck (30%), and Dawn (50%) are partners in the BCDPartnership. During the current year, BCD reports the followingresults. All items occur evenly throughout the year unlessotherwise indicated. Assume the current year is not a leapyear.

Ordinaty income: 120,000. Long Term Capital Gain (recognizedSeptember 1): 18,000. Short Term Capital Loss (recognized March 2):6,000. Charitable Contribution (made October 1st): 20,000

A) What are the distributive shares for each partner, assumingthey all continue to hold their interests at the end of theyear?

B) Assume Becky purchases a 5% partnership interest from Chuckon July 1st so that Beck and Chuck each own 25% from that datethroughout the end of the year. What are Becky and Chuck'sdistributive shares for the current year?

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Casey Durgan
Casey DurganLv2
28 Sep 2019

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