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The XYZ Partnership Is Held by Ten Partners Who Have

Question 94

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The XYZ Partnership is held by ten partners who have the following capital and profits ownership of the partnership. The tax year-end used by each of the ten partners is also indicated. Assume each partner has used this year-end for at least five years. The XYZ Partnership is held by ten partners who have the following capital and profits ownership of the partnership. The tax year-end used by each of the ten partners is also indicated. Assume each partner has used this year-end for at least five years. What is the required year-end for the XYZ Partnership, assuming that the business has no natural business year and has not filed a Sec. 444 election? What is the required year-end for the XYZ Partnership, assuming that the business has no natural business year and has not filed a Sec. 444 election?

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