The XYZ Partnership Is Held by Ten Partners Who Have

question 46

Essay

The XYZ Partnership is held by ten partners who have the following capital and profits ownership of the partnership.The tax year-end used by each of the ten partners is also indicated.Assume each partner has used this year-end for at least five years.
$$\begin{array} { | c | c | c | } \hline \text { Partner } & \text { Ownership } & \text { Partner's Tax Year-End } \\\hline \text { A } & 8 \% & 12 / 31 \\\text { B } & 8 \% & 6 / 30 \\\text { C } & 8 \% & 9 / 30 \\\text { D } & 10 \% & 6 / 30 \\\text { E } & 10 \% & 6 / 30 \\\text { F } & 10 \% & 10 / 31 \\\text { G } & 10 \% & 9 / 30 \\\text { H } & 12 \% & 12 / 31 \\\text { I } & 12 \% & 6 / 30 \\\text { K } & 12 \% & 6 / 30 \\\hline\end{array}$$ What is the required year-end for the XYZ Partnership,assuming that the business has no natural business year and has not filed a Sec.444 election?

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Definitions:

Daily Caloric Intake

The total amount of calories a person consumes in a day, which can vary based on age, gender, activity level, and weight management goals.

Protein

Macromolecules consisting of long sequences of α-amino acids [H2N-CHR-COOH] in peptide (amide) linkage (elimination of H2O between the α-NH2 and α-COOH of successive residues). Protein is three-fourths of the dry weight of most cell matter and is involved in structures, hormones, enzymes, muscle contraction, immunologic response, and essential life functions. The amino acids involved are generally the 20 α-amino acids (glycine, l-alanine) recognized by the genetic code. Cross-links yielding globular forms of protein are often effected through the 2SH groups of two sulfur-containing l-cysteinyl residues, as well as by noncovalent forces (such as hydrogen bonds, lipophilic attractions).

Carbohydrate Reserves

Stored sugars and starches in the body, primarily in the liver and muscles, used as a source of energy.

Protein

Essential macromolecules composed of amino acids, crucial for the structure, function, and regulation of the body's cells, tissues, and organs.