Banting Co.and Smithers Co.have entered into a partnership for business purposes.Both companies are CCPCs and they share the profits and losses of the business equally.During the year, the partnership earned $200,000 of active business income, and Banting earned $450,000 in business income from operations other than the partnership.All of the companies have a December 31^st year-end.How much of Banting's share of the partnership profits will be eligible for the small business deduction (assuming all of the $450,000 is allocated to the deduction)? A)$0 B)$50,000 C)$100,000 D)$200,000

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Banting's share of the partnership profits is $100,000 (half of $200,000), but since Banting has already allocated $450,000 of its own business income to the small business deduction, only $50,000 of its share from the partnership will be eligible for the small business deduction. This is because the combined amount eligible for the small business deduction cannot exceed $500,000 in a fiscal year.