The BCD Partnership is formed in April of the current year. The three equal partners, Boris, Carlton

Question:

The BCD is formed in April of the current year. The three equal partners, Boris, Carlton Corporation, and Damien have had tax years ending on December 31, August 30, and December 31, respectively, for the last three years. The BCD has no natural business year.
a. What tax year is required for the BCD under Sec. 706?
b. Can the BCD make a Sec. 444 election? If so, what are the alternative tax years BCD could select? Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...