When does a partnership terminate for federal tax purposes? When at least 50% of total partnership interests are sold within a 12-month period. When all operations are completely discontinued. When Form 2553, Election by a Small Business Corporation, is received and approved When more than 75% of the partnership interests are held by an entity incorporated und Mark for follow up.

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According to the Internal Revenue Service IRS of the United States a partnership terminates for fede... View the full answer