Braxton Darcy, Matt Marteny, and Jacob Kittle formed a partnership on April 1 , 2 0 2 1 The partnership provides engineering services to a variety of clients and has a December 3 1 fiscal period Each partner makes an initial car contribution of $ 2 0 5 , 0 0 0 With respect to the various items that must be allocated to individual partners, the partnership agreement contains following provisions View the provisions of the partnership agreement Read the require View the additional information Provisions of Partnership Agreement Requirement A Calculate the ACB of Jacob's partnership interest as of January 1 , 2 0 2 4 ( Round your answers to the nearest whole dollar ) Initial capital contribution Additional capital contribution Total capital contribution Drawings Business income table 2 0 5 0 0 0 , 7 7 5 0 0 , 2 8 2 5 0 0 , 5 6 0 0 0 , 9 9 6 4 Capital gains to Marteny and Kittle Dividends to Darcy Charitable donations ACB of Jacob's partnership interest 3 5 4 8 7 6 Provisions of Partnership Agreement Business income The three partners will equally share the business profits Capital gains Capital gains realized by the partnership will be shared equally by Matt Marteny and Jacob Kittle Eligible dividends All allocated to Braxton Darcy Charitable contributions Charitable contributions will be allocated equally to the three partners For the period April 1 , 2 0 2 1 , to December 3 1 , 2 0 2 3 , the following income tax information is available The partnership business profits are $ 2 3 3 , 4 9 0 The partnership realized a $ 1 8 , 4 5 4 capital gain The partnership received eligible dividends totalling $ 4 , 6 9 2 During the 2 0 2 3 fiscal period, the partnership made $ 8 , 4 9 0 in charitable donations Additional capital was required to expand the business, and, therefore, each partner contributed an additional $ 7 7 , 5 0 0 in cash in the 2 0 2 3 fiscal period Partner withdrawals in the 2 0 2 3 fiscal period were as follows Braxton Darcy, $ 1 1 0 , 5 0 0 Matt Marteny, $ 2 3 3 , 0 0 0 and Jacob Kittle, $ 5 6 , 0 0 0 All of the above amounts represent the relevant amounts for income tax purposes, so no reconciliation adjustments are necessary Near the end of 2 0 2 3 , Jacob Kittle has announced that he will be withdrawing from the partnership effective January 1 , 2 0 2 4 After some negotiations, each of the other partners agreed to purchase one half of his interest in the partnership for $ 1 6 5 , 0 0 0 apiece, a total of $ 3 3 0 , 0 0 0 The payments are to be made on February 1 , 2 0 2 4 The partnership has business income of $ 2 1 , 2 0 0 in January 2 0 2 4 Jacob incurred legal and accounting fees in connection with the sale of his partnership interest of $ 1 , 9 0 0

Question

Braxton Darcy, Matt Marteny, and Jacob Kittle formed a partnership on April 1 , 2 0 2 1   The partnership provides engineering services to a variety of clients and has a December 3 1 fiscal period  Each partner makes an initial car contribution of $ 2 0 5 , 0 0 0   With respect to the various items that must be allocated to individual partners, the partnership agreement contains following provisions  View the provisions of the partnership agreement  Read the require View the additional information  Provisions of Partnership Agreement Requirement A   Calculate the ACB of Jacob's partnership interest as of January 1 , 2 0 2 4   ( Round your answers to the nearest whole dollar  ) Initial capital contribution Additional capital contribution Total capital contribution Drawings Business income   table     2 0 5 0 0 0   ,   7 7 5 0 0   ,   2 8 2 5 0 0   ,   5 6 0 0 0   ,   9 9 6 4     Capital gains to Marteny and Kittle Dividends to Darcy Charitable donations ACB of Jacob's partnership interest 3 5 4 8 7 6 Provisions of Partnership Agreement Business income  The three partners will equally share the business profits  Capital gains  Capital gains realized by the partnership will be shared equally by Matt Marteny and Jacob Kittle  Eligible dividends  All allocated to Braxton Darcy  Charitable contributions  Charitable contributions will be allocated equally to the three partners  For the period April 1 , 2 0 2 1 , to December 3 1 , 2 0 2 3 , the following income tax information is available  The partnership business profits are $ 2 3 3 , 4 9 0   The partnership realized a $ 1 8 , 4 5 4 capital gain  The partnership received eligible dividends totalling $ 4 , 6 9 2   During the 2 0 2 3 fiscal period, the partnership made $ 8 , 4 9 0 in charitable donations  Additional capital was required to expand the business, and, therefore, each partner contributed an additional $ 7 7 , 5 0 0 in cash in the 2 0 2 3 fiscal period  Partner withdrawals in the 2 0 2 3 fiscal period were as follows  Braxton Darcy, $ 1 1 0 , 5 0 0   Matt Marteny, $ 2 3 3 , 0 0 0   and Jacob Kittle, $ 5 6 , 0 0 0   All of the above amounts represent the relevant amounts for income tax purposes, so no reconciliation adjustments are necessary  Near the end of 2 0 2 3 , Jacob Kittle has announced that he will be withdrawing from the partnership effective January 1 , 2 0 2 4   After some negotiations, each of the other partners agreed to purchase one   half of his interest in the partnership for $ 1 6 5 , 0 0 0 apiece, a total of $ 3 3 0 , 0 0 0   The payments are to be made on February 1 , 2 0 2 4   The partnership has business income of $ 2 1 , 2 0 0 in January 2 0 2 4   Jacob incurred legal and accounting fees in connection with the sale of his partnership interest of $ 1 , 9 0 0

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Braxton Darcy, Matt Marteny, and Jacob Kittle formed a partnership on April 1 , 2 0 2 1 . The partnership provides engineering services to

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