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Kerry is a partner in the Kerry, Davis, Smith & Jones Partnership. Kerry owned 25% from January 1, 2019, to June 30, 2019, when he
Kerry is a partner in the Kerry, Davis, Smith & Jones Partnership. Kerry owned 25% from January 1, 2019, to June 30, 2019, when he bought Jones's 25% interest. He owned 50% for the rest of the year. The partnership had ordinary income of $146,000 and $18,000 in long-term capital gains. Barring any special allocations in a partnership agreement, what is Kerry's share of income? (Do not round any division. Round other computations to the nearest whole dollar value.) Amount Ordinary income LTCG
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