On January 1, 2020, Raymond and Robert form the RR Partnership. The partnership has a December 31 year end. The partnership agreement provides Robert with a 40 percent share of profits and losses. Robert initially contributes $12,500 and makes a further contribution of $7,200 on June 10, 2020. He withdraws $4,000 on October 31, 2020. RR Partnership has the following sources of income for 2020:

 

Determine the ACB of Robert’s partnership interest on December 31, 2020, and at January 1, 2021. In addition, determine the amount that would be included in Robert’s 2020 Net Income For Tax Purposes as a consequence of his interest in the RR Partnership.

Capital Gain On Corporate Shares Eligible Dividends Received From Canadian Corporations Net Business Income $11,600 3,100 46,700