Partners tax year-ends


Gold Corporation, Silver Corporation, and Copper Corporation are equal partners in the GSC Partnership. The partners' tax year-ends are as follows:

Gold December 31st
Silver September 30th
Copper November 30th

a. The partnership is free to elect any tax year.

b. The partnership may use any of the 3 year-end dates that its partners use.

c. The partnership must use a November 30th year-end.

d. The partnership must use a September 30th year-end.

e. None of the above.

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Accounting Basics: Partners tax year-ends
Reference No:- TGS079663

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