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Gleim #: 10.2.43 David Beck and Walter Crocker were equal partners in the calendar-year partnership of Beck & Crocker. On July 1, Year 1, Beck
Gleim #: 10.2.43 David Beck and Walter Crocker were equal partners in the calendar-year partnership of Beck & Crocker. On July 1, Year 1, Beck died. Becks estate became the successor in interest and continued to share in Beck & Crockers profits until Becks entire partnership interest was liquidated on April 30, Year 2. At what date was the partnership considered terminated for tax purposes? A. April 30, Year 2. B. July 1, Year 1. C. December 31, Year 1. D. July 31, Year 1.
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