In the year a donor gives a partnership interest to a donee, their share of the partnership's income is prorated between the donor and donee.

Question

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When a donor gives a partnership interest to a donee, their share of the partnership's income is prorated between the donor and donee for the year in which the transfer occurred. This is done based on the number of days in the year that each had an interest in the partnership.

In the Year a Donor Gives a Partnership Interest to a Donee