Homework: 4-2 MyAccountingLab Homework: Module Four Save Score: 0 of 5 pts 4 of 5...
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Homework: 4-2 MyAccountingLab Homework: Module Four Save Score: 0 of 5 pts 4 of 5 (4 complete) HW Score: 69%, 17.25 of 25 pts Ql:11-5 (book/static) Question Help What restrictions apply to partnerships selecting a tax year? (Select all that apply.) ? A Partnerships may elect a fiscal year involving a deferral period of five months or more if the partnership makes a required tax payment. B. There are no restrictions to partnerships selecting a tax year C. Partnerships may elect a natural business year even if it differs from the tax year of its partners D. A partnership must use the same tax year of the partners who own the majority of the partnership income and capital. If the majority does not have the same tax year the partnership must use a taxable year, which is the same as the taxable year of all its principal partners. E. Partnerships may elect a fiscal year involving a deferral period of three months or less if the partnership makes a required tax payment
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