BCD Partnership has, for many years, had a March 31 year-end. The partnership's net income for the

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BCD Partnership has, for many years, had a March 31 year-end. The partnership's net income for the fiscal year ended March 31, 2020 is $400,000. Because of its fiscal year, BCD has $100,000 on deposit with the IRS from 2019.

a. How much must BCD add to the deposit?

b. When must BCD make the addition?

c. Will the partners receive any credit for the deposit? That is, are they permitted to treat the amount as estimated payments?

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Federal Taxation 2020 Comprehensive

ISBN: 9780135196274

33rd Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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Question Posted: Jul 02, 2020 01:21 AM

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BCD Partnership has, for many years, had a March 31 year-end. The partnership's net income for the

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a The addition to the deposit is 14000 400000 x 38 x 912 100000 b The payment mu...View the full answer

Federal Taxation 2020 Comprehensive

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