Questions:

1.On August 31, Year 1, the AB Partnership, which has a June 30 tax year, sells all of its operating assets for cash, recognizing a substantial taxable gain. A and B, the sole partners, are calendar-year taxpayers. The proceeds of sale are placed in a high-yield money market account in the name of the partnership. The partnership makes a single distribution of all the funds in this account on January 1, Year 2. When does the AB Partnership terminate?

2.A, an equal partner in the AB Partnership, dies on June 30, Year 1. The partnership agreement provides that A's estate will continue to own his partnership interest, which will be liquidated through distributions over a six-month period. When does the partnership terminate?

3.D, an equal partner in the DE Partnership, retires from the partnership, Pursuant to the agreement between D and the partnership, she will be paid the amount of her capital account on her last day in the office and will cease to have any share of partnership profits and losses at that time. Thereafter, D will receive fixed monthly retirement payments for five years. When does the partnership terminate?