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Ben is a 50% partner in the BC partnership. BC uses a September 30th fiscal year-end. The partnership reported ordinary income of $200,000 for 2019
Ben is a 50% partner in the BC partnership. BC uses a September 30th fiscal year-end. The partnership reported ordinary income of $200,000 for 2019 and $140,000 for 2020. Ben will report ordinary income for his tax year ending December 31, 2019 of:
a. $100,000.
b. $92,500.
c. $85,000.
d. $70,000.
e. None of the above.
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