Select the best answer On March 1 20x0 M retired from the MN

Select the best answer On March 1, 20x0, M retired from the MNO Partnership, a calendar-year partnership. M continued to receive retirement payments until February 28, 20xi, when his entire partnership interest was liquidated. For tax purposes, when did M cease to be regarded as a partner? O A. March 1, 20xo O B. December 30, 20XO O C. December 31, 20X1 O D. February 28, 20X1

Solution

For tax purposes even through the partner retired from the partnership, as long as he get the payments frim partnership he continues to be regarded as partner.

So the date is February 28,2011

Answer is Option D)