Question: The BCD Partnership is being formed by three equal partners, Beta Corporation, Chi Corporation, and Delta Corporation. The partners tax year-ends are June 30 for

The BCD Partnership is being formed by three equal partners, Beta Corporation, Chi Corporation, and Delta Corporation. The partners tax year-ends are June 30 for Beta, September 30 for Chi, and October 31 for Delta. The BCD partnerships natural business year ends on January 31.

What tax year(s) can the partnership elect without IRS permission?

What tax year(s) can the partnership elect with IRS permission?

How would the answer in part a and b change if Beta, Chi, and Delta own 4%, 4%, and 92%, respectively, of the partnership?

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