Marc Is a Calendar-Year Taxpayer Who Owns a 30% Capital

question 64

Multiple Choice

Marc is a calendar-year taxpayer who owns a 30% capital and profits interest in the MN Partnership. Nancy sells the remaining 70% capital and profits interest to Henry on October 31. The partnership year-end is March 31 as permitted by the IRS for business purpose reasons. The MN Partnership

• A)terminates on March 31.
• B)terminates on October 31.
• C)terminates on December 31.
• D)does not terminate.

---

Definitions:

Developmental Norms

Standardized benchmarks of average achievements in areas such as physical, emotional, or intellectual development at various stages of life.

Statement Indicates

Suggests or points out something based on information given or evidence available.

Etiology

The study of the causes or origins of diseases, understanding how and why diseases develop.

Interventions Required

A term indicating that specific actions or treatments are necessary to address a medical condition or improve a patient's health status.