Olivia Corp and Emma Corp each own a 50% interest in a Partnership which uses a fiscal year ending 6/30. Olivia Corp uses the calendar year and Emma Corp uses a fiscal year ending 11/30. Determine (1) if the Partnership' should change its tax year and (2) what the required tax year of the Partnership should be

Answer rating: 100% (QA)

To determine whether the partnership should change its tax year and what the required tax year should be we need to consider the tax year ends of both ... View the full answer