O Purchased a 20% Interest in the OOPS Partnership for $20,000

question 16

Multiple Choice

O purchased a 20% interest in the OOPS partnership for $20,000 on January 1, 2012.He purchased another 10% interest in OOPS for $10,000 on December 1, 2012.As of January 1, 2013, what is O's holding period in his partnership interest?

• A)One year
• B)One month
• C)One year for 50% of his interest and one month for 50% of his interest
• D)One year for 67% of his interest and one month for 33% of his interest