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When a more than fifty percent (50%) partner sells his entire interest in a partnership to an unrelated third party: The tax year closes with

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When a more than fifty percent (50%) partner sells his entire interest in a partnership to an unrelated third party: The tax year closes with respect to both that partner and the partnership The tax year closes with respect to that partner only The tax year closes with respect to the partnership only The tax year closes with respect to neither that partner nor the partnership Maria partnership had the following information for the year ending December 31, 2020: Gross receipts (sales) - $600,000; cost of goods sold- $320,000; Operating expenses $88,000; charitable contributions- $2,000; section 1231 gain -$1,600, section 1245 gain- $900; dividends $800.. Maria partnership's ordinary income( ie. Nonseparately stated income) for the year of 2020 15: $195,300 $193,700 $192,900 $192,000

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