Crane is a partner in the cardinal Partnership. A dispute arose with the partnership regarding his share of current earnings. The partnership contends that the amount is $75,000, while Crane believs his share is $100,000. Crane ceased being a partner on November 1, 2011. As result of the dispute, the partnership distributed only $75,000 and placed the $25,000 in escrow. However, Crane's Schedule K-1 from the partnership included the full $100,000. Crane feels that the K-1 should include only the $75,000 that is not in dispute. Is crane correct?
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