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A permitted tax year for a partnership may be determined under any of the following, EXCEPT: a ) A business purpose b ) The same
A permitted tax year for a partnership may be determined under any of the following, EXCEPT:
a A business purpose
b The same tax year as a majority of its partners
c Any year, so long as the partnership makes a required payment and the deferral period is not more than three months
d A calendar year
e The same tax year as the principal partners if the majority of its partners do not have the same tax year
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