Question: Kerry is a partner in the Kerry, Davis, Smith & Jones Partnership. Kerry owned 25% from January 1, 2021, to June 30, 2021, when she

Kerry is a partner in the Kerry, Davis, Smith & Jones Partnership. Kerry owned 25% from January 1, 2021, to June 30, 2021, when she bought Joness 25% interest. She owned 50% for the rest of the year. The partnership had ordinary income of $175,200 and $20,000 in long-term capital gains.

Required:

Barring any special allocations in a partnership agreement, what is Kerrys share of income?

Note: Do not round any division. Round other computations to the nearest whole dollar value.

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