Sarah, Sue, and AS Inc. formed a partnership on May 1, 20X9 called SSAS, LP. Now that PS is formed, they must determine its appropriate year-end. Sarah has a 30% profit and capital interest while Sue has a 35% profit and capital interest. Both Sarah and Sue have calendar year-ends. AS Inc, holds the remaining profit and capital interest in the LP, and it has a September 30 year-end. What tax year-end mush SSAS, LP use for 20X9 and which test or rule requires this year-end?n
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A) 9/30, majority interest taxable yearn
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B) 12/31, majority interest taxable yearn
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C) 12/31, principal partners testn
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D) 12/31, least aggregate deferral test

Answer rating: 100% (QA)

The correct answer is option B They must opt 1231 majority ... View the full answer