Banting Co

question 2

Multiple Choice

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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