Jordan, Inc., Bird, Inc., Ewing, Inc., and Barkley, Inc. formed Nothing-But-Net Partnership on June 1^st, 20X9. Now, Nothing-But-Net must adopt its required tax year-end. The partners' year-ends, profits interests, and capital interests are reflected in the table below. Given this information, what tax year-end must Nothing-But-Net use and what rule requires this year-end? $$\begin{array} { | l | r | } \hline \text { Gain on Sale of Land } & \$ 4,000 \ \hline \text { MACRS Depreciation } & \$ 7,500 \ \hline \text { Charitable Contributions } & \$ 12,500 \ \hline \text { Sales } & \$ 40,000 \ \hline \text { Interest Income } & \$ 500 \ \hline \text { Cost of Goods Sold } & \$ 32,000 \ \hline 179 \text { Expense } & \$ 7,000 \ \hline \text { Tax-Exempt Income } & \$ 2,000 \ \hline \text { Other Income } & \$ 5,000 \end{array}$$

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The Answer of Jordan, Inc., Bird, Inc., Ewing, Inc., and Barkley, Inc. formed Nothing-But-Net Partnership on June 1^st, 20X9. Now, Nothing-But-Net must adopt its required tax year-end. The partners' year-ends, profits interests, and capital interests are reflected in the table below. Given this information, what tax year-end must Nothing-But-Net use and what rule requires this year-end? $$\begin{array} { | l | r | } \hline \text { Gain on Sale of Land } & \$ 4,000 \ \hline \text { MACRS Depreciation } & \$ 7,500 \ \hline \text { Charitable Contributions } & \$ 12,500 \ \hline \text { Sales } & \$ 40,000 \ \hline \text { Interest Income } & \$ 500 \ \hline \text { Cost of Goods Sold } & \$ 32,000 \ \hline 179 \text { Expense } & \$ 7,000 \ \hline \text { Tax-Exempt Income } & \$ 2,000 \ \hline \text { Other Income } & \$ 5,000 \end{array}$$