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22. Rhianna is a calendar-year taxpayer who owns a 40% capital and profits interest in the...

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Accounting

22. Rhianna is a calendar-year taxpayer whoowns a 40% capital and profits interest in the RM Partnership.Magdalena sells the remaining 60% capital and profits interest toSyed on November 30. The partnership year-end is May 31 aspermitted by the IRS for business purpose reasons. The RMPartnership

A) terminates on September 30.

B) terminates on October 31.

C) terminates on December 31.

D) does not terminate.

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