Rocky and Charlie Form RC Partnership as Equal Partners

Multiple Choice

Rocky and Charlie form RC Partnership as equal partners.Rocky contributes $100,000 into RC while Charlie contributes real estate with a fair market value of $100,000.During the current year,RC earned net income of $600,000.The partnership distributes $200,000 to each partner.The amount that Rocky should report on his individual tax return is

A) $0.
B) $100,000.
C) $200,000.
D) $300,000.