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Under which of the following circumstances would a partnership terminate and close its tax year? a.Entry of a new partner b.Distribution of property to a
Under which of the following circumstances would a partnership terminate and close its tax year?
a.Entry of a new partner
b.Distribution of property to a 10 percent partner in complete termination of the partner's interest in the partnership
c.Divorce of a partner
d.Sale of an interest in a partnership by a partner who holds a 60 percent capital and profits interest
e.None of these choices are correct.
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