Which of the following statements is correct regarding a partnership’s ability to adopt a year end other than its required tax year?

a. To adopt a natural business year, the partnership must have been in existence for at least 5 years.

b. To adopt a natural business year, for the past three years, the partnership must have earned at least 25% of its profits in the last two months of the year.

c. A partnership has a June 30 fiscal year as its required tax year. The partnership may be able to adopt a March 31 year end, provided it makes the required tax deposits to offset the estimated amount of the deferral.

d. None of the above statements are correct.