When preparing a tax return for a short period,the taxpayer should annualize the income if the short period return
A)is the last return for a decedent who died on June 15.
B)is the first return for a corporation created on June 1.
C)is the last return for a partnership,which was terminated on October 12.
D)None of the above situations require annualization of income for the short period return.

Question

Quizplus · Accepted Answer

Annualization of income is typically not required for short period returns in the situations described, such as the final return of a decedent, the first return of a newly created corporation, or the final return of a terminated partnership.

When Preparing a Tax Return for a Short Period,the Taxpayer