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Senthel and Amaliah, are both calendar-year taxpayers, and each own a 15% interest in the ABC, Fine Food Purveyors. ABC is a partnership. DEF, Inc.
Senthel and Amaliah, are both calendar-year taxpayers, and each own a 15% interest in the ABC, Fine Food Purveyors. ABC is a partnership. DEF, Inc. owns 70% of ABC. DEF uses a fiscal year that end on March 30th. The ABC partnership has not established a business puropse for using a particular tax year, nor has it made a fiscal year election. On what date will the partnership's required tax year end? A. March 15th B. March 30th C. April 15th D. May 31st
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