I think my frined's response with a series of numbers has been censored by Intuit (for your protection, lol). Try this instead: https://bit.ly/2ups6xr
A partnership must conform its tax year to its partners' tax years unless any of the following apply.
- The partnership makes an election under section 444 of the Internal Revenue Code to have a tax year other than a required tax year by filing Form 8716.
- The partnership elects to use a 52-53-week tax year that ends with reference to either its required tax year or a tax year elected under section 444.
- The partnership can establish a business purpose for a different tax year.
Still an AllStar