Red, White, and Blue are unrelated corporations engaged in real estate development. The three corporations formed a joint venture (treated as a partnership) to develop a tract of land.

	Tax Year Ending	Interest in Joint Venture
Red	March 31	60%
Blue	June 30	20%
White	October 31	20%

The majority interest partners' rule will apply in determining the partnership's tax year. Therefore, the partnership will use the same tax year as Red Corporation.

A. The following data is provided regarding ownership interests.

	Tax Year Ending	Interest in Joint Venture
Red	October 31	30%
Blue	January 31	30%
White	September 30	40%

Complete the tables below to determine the tax year the joint venture must adopt using the least aggregate deferral method.

Note: Carry the product answers out to one decimal place. Enter the product as a decimal (for example, 5.6). If an amount is zero, enter 0.

Test for Fiscal Year Ending October 31
Partner	Year-End Date	Profit %	Months of Deferral			Product
Red	10/31	30	?			?
Blue	1/31	30	?			?
White	9/30	40	?			?
Aggregate deferral months

Test for Fiscal Year Ending January 31
Partner	Year-End Date	Profit %	Months of Deferral			Product
Red	10/31	30	?			?
Blue	1/31	30	?			?
White	9/30	40	?			?
Aggregate deferral months

Test for Fiscal Year Ending September 30
Partner	Year-End Date	Profit %	Months of Deferral			Product
Red	10/31	30	?			?
Blue	1/31	30	?			?
White	9/30	40	?			?
Aggregate deferral months