Red, White, and Blue are unrelated corporations engaged in real estate development. The three corporations formed a
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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. Assuming that the venture does not have a natural business year, what tax year must the joint venture adopt under the following circumstances?
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Tax Year Ending March 31 June 30 October 31 October 31 September 30 January 31 Interest in Joint Venture 60% 20% 20% 30% a. Red Blue White b. Red White Blue 30%
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Related Book For
South Western Federal Taxation 2016 Comprehensive
ISBN: 9781305395114
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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