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Hannah and Matilda, both calendar year taxpayers each own a 15% interest in Partnership MNO. Orton, Inc., whose fiscal year ends on March 30th owns
Hannah and Matilda, both calendar year taxpayers each own a 15% interest in Partnership MNO. Orton, Inc., whose fiscal year ends on March 30th owns a 70% interest in partnership and MNO. Partnership mno has not established a business purpose for using a different tax year nor has it made a fiscal year tax year election on what date will partnership mnos require tax year end
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