Red White and Blue Are Unrelated Corporations Engaged in Real Estate
red white and blue are unrelated corporations engaged in real estate development the 699051
Red, White, and Blue are unrelated corporations engaged in real estate development. The three corporations formed a joint venture (treated as a partnership) to develop a tract of land. Assuming that the venture does not have a natural business year, what tax year must the joint venture adopt under the following circumstances?
| Tax Year Ending Don't use plagiarized sources. Get Your Custom Essay on red white and blue are unrelated corporations engaged in real estate development the 699051 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | Interest in Joint Venture | ||
| a. | Red | March 31 | 60% |
| Blue | June 30 | 20% | |
| White | October 31 | 20% | |
| b. | Red | October 31 | 30% |
| White | September 30 | 40% | |
| Blue | January 31 | 30% |
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