1. QUESTIONS A and B are equal partners in the AB partnership and are calendar year taxpay- ers. The AB partnership is on a June 30th fiscal year. Determine the tax conse- quences, if any, in the following alternative circumstances. a. A sold his partnership interest to B on September 30. b. A and B agreed in the prior year to terminate the partnership and on that date sold the partnership's operating assets for cash. The proceeds of sale were placed in a money market fund in the name of the partnership. When 17P-1