Question: Under Section 444 of the Internal Revenue Code, certain partnerships can elect to use a tax year different from their required tax year. One of

Under Section 444 of the Internal Revenue Code, certain partnerships can elect to use a tax year different from their required tax year. One of the conditions for eligibility to make a Section 444 election is that the partnership must

a. Be a limited partnership.

b. Be a member of a tiered structure.

c. Choose a tax year where the deferral period is not longer than three months.

d. Have less than seventy-five partners.

952 MODULE 37 PARTNERSHIPS TAXATION

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