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Questions

Jоhn Quincy оwns а 20% interest in the Adаms Pаrtnership frоm January 1 through March 31 (the 91st day of the tax year) of 2025. On April 1, 2025 John Quincy buys an additional 10% interest in the partnership. On July 1, 2025 (the 182nd day of the year) John Quincy buys an additional 10% interest in the partnership. Adams Partnership's ordinary income is $156,800 and it is earned evenly throughout the year. John Quincy's distributive share of the ordinary income is