If a partner dies, his or her tax year closes

Name: If a partner dies, his or her tax year closes
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The tax year of a partner who dies closes on the date of death. This means that any income earned up until the date of death is included in the deceased partner's final tax return. Any income earned after the date of death is considered part of the new tax year and is reported on the tax return of the surviving partner or partners.

If a Partner Dies, His or Her Tax Year Closes