Problem 14-53 (LO 14-2)

Kerry is a partner in the Kerry, Davis, Smith & Jones Partnership. Kerry owned 25% from January 1, 2018, to June 30, 2018, 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.)

Ordinary Income:

LTCG: