Computation of Partnership's Required Tax Year Under the Least Aggregate Deferral Method (LO. 6)

Cerulean, Inc., Coral, Inc., and Crimson, Inc. form the Three Cs Partnership on January 1 of the current year. Cerulean is a 50%partner, and Crimson and Coral are 25% partners. For reporting purposes, Crimson uses a fiscal year with an October 31 year-end, Coral uses the calendar year, and Cerulean uses a fiscal year with a February 28/29 year-end.

Round your intermediate computations and final answers to two decimal places.

a. What is the aggregate number of deferral months under the following, using the least aggregate deferral method:

February 28 year end:
October 31 year end:
December 31 year end:

b. Under the least aggregate deferral method, what is the required tax year for the partnership?