A trust is considered, at a particular time, to be a majority-interest partner of a partnership in the following circumstances:

• the trust's share of the partnership's income for the fiscal period ended before that time (or for the first fiscal period including that time, in the case of a new partnership) would have exceeded 50% of the partnership's income from all sources if the trust had held the same interest throughout the fiscal period as the interest that the trust or an affiliated person held in the partnership at that time; or 
• the trust would have received, together with all affiliated persons, more than 50% of the amount that the partnership would have paid to all partners otherwise than as a sharing of income if the partnership had been wound up at that time.