A is the Tax Manager at Corporation Inc., which is a publicly-traded company with a June 30 year-end. It is early March of 2022 and Townshend has not yet filed its June 30, 2021 Form 1120. Corporation’s CFO just told A that they acquired a partnership interest in Keyboard LLC, and has presented A with an initial 2021 Schedule K-1 from Keyboard LLC, which indicates that the K-1 is for the short taxable year ended December 31, 2021. On what tax year should Townshend include the items from this Schedule K -1 from Keyboard LLC? 

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A is working as a tax manager at Corporations As per the tax guidelines the deadline to file a ret... View the full answer