Baker, a cash-basis, calendar-year taxpayer, is a partner in an accrual-basis partnership that reports its taxable income on an october 31 fiscal year. baker has been provided the following information:
fy 17-18 fy 18-19
baker’s distributive share of partnership ordinary income$30,000 $40,000
baker’s "salary"
$1,000 per month $12,000 ($1,000 x 12)
$1,500 per month $18,000 ($1,500 x 12)
the partnership was short of cash and paid none of the above to baker until january 3, 2020. compute baker’s income from the partnership for 2018.