Bob, Kara, and Mark are partners in the BKM Partnership. Bob is a 40% partner and has a June 30 tax yearminusend. Kara owns a 40% interest in the partnership and has a September 30 tax yearminusend, and Mark owns the remaining 20% interest and has an October 31 tax yearminusend. The partnership does not have a natural business year. What is the required tax yearminusend for the partnership (if no Sec. 444 election is made)?

June 30

Explanation:

According to the section 444, the partnership should be elect while using the tax year besides the required tax year but it is not applied to any partnership that introduced a purpose of the business for a distinct or different period

Since in the given situation, the bob is 40% partner and the partnership also does not have a natural business year plus there is no section 444 election is made.

Therefore, in this case the June 30 is to be considered

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.