Acceptable partnership tax year


Which of the following is not an acceptable partnership tax year?

1. The tax year used by any principal partner

2. The tax year used by the partners who own a majority interest

3. A tax year that results in a 2-month deferral of income for the partners

4. C's tax year if C owns more than 50% of the partnership

5. A year-end that coincides with the partnership's natural business year

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Accounting Basics: Acceptable partnership tax year
Reference No:- TGS065474

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