Part-year residents, time of residence.
Partners or members who are residents of this state for less than a full taxable year shall compute taxes for that year on their share of partnership or limited liability company income or loss under this chapter on the part of the taxable year during which they are residents in the following manner: 1.
(1)#
Assign an equal portion of each item of income, loss or deduction to each day of the partnership’s or limited liability company’s taxable year.
(2)#
Multiply each daily portion of those items of income, loss or deduction by a fraction that represents the partner’s or member’s portion, on that day, of the total partnership or limited liability company interest.
(3)#
Net the items of income, loss or deduction, after the calculation under subd. 2., for all of the days during which the partner or member was a resident of this state.