Business, 21.05.2020 03:58, edjiejwi

Sarah, Sue, and AS Inc. formed a partnership on May 1, 20X9, called SSAS, LP. Now that the partnership is formed, they must determine its appropriate year-end. Sarah has a 30 percent profits and capital interest while Sue has a 35 percent profits and capital interest. Both Sarah and Sue have calendar year-ends. AS Inc. holds the remaining profits and capital interest in the LP, and it has a September 30 year-end. What tax year-end must SSAS, LP, use for 20X9, and which test or rule requires this year-end

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Sarah, Sue, and AS Inc. formed a partnership on May 1, 20X9, called SSAS, LP. Now that the partnersh...