Abraham owns a 20% interest in the Lincoln Partnership from…
Abraham owns a 20% interest in the Lincoln Partnership from January 1 through March 31 (the 91st day of the tax year) of 2026. On April 1, 2026 Abraham buys an additional 10% interest in the partnership. On July 1, 2026 (the 182nd day of the year) Abraham buys an additional 10% interest in the partnership. Lincoln Partnership’s ordinary income is $156,800 and it is earned evenly throughout the year. Abraham’s distributive share of the ordinary income is