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02/09/2012
Former Owner of Illinois Technology Company Sentenced to Serve 30 Months in Prison for Role in Multi-State Scheme to Defraud Federal E-Rate Program
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02/09/2012
Food Storage and Processing Facility in Washington State Agrees to Resolve Seizure Action
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02/09/2012
Federal Government and State Attorneys General Reach $25 Billion Agreement with Five Largest Mortgage Servicers to Address Mortgage Loan Servicing and Foreclosure Abuses
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02/09/2012
Justice Department Dismisses Antitrust Lawsuit Against Deutsche Borse and NYSE Euronext
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02/09/2012
Libya: UN welcomes adoption of electoral laws
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02/09/2012
UN wraps up year of forests by highlighting their social and economic value
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02/09/2012
Wave of prison deaths in South America sparks alarm from UN human rights office
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02/09/2012
Rap artist 50 Cent visits Horn of Africa with UN food relief agency
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02/09/2012
UN official urges Syria to immediately end violations against children
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02/08/2012
U.S. and Chinese Defendants Charged with Economic Espionage and Theft of Trade Secrets in Connection with Conspiracy to Sell Trade Secrets to Chinese Companies
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FAQ / Partnership A wishes to report ownership percentages on tax year 2009 Form 1065 Schedules K-1, Item J, using a different reasonable method from the reasonable method used for tax year 2008. Must Partn

Yes. The instructions for Form 1065 Schedule K-1, Item J, provide that if the partnership agreement does not express the partners' percentage interests as fixed percentages, the partnership may use a reasonable method in arriving at each percentage for the purpose of completing Item J as long as such method is consistent with the partnership agreement and is applied consistently from year to year. If Partnership A changes the reasonable method used for tax year 2009 from that used for tax year 2008, Partnership A must attach a statement to its tax year 2009 Form 1065 explaining why the change was necessary and a schedule comparing each partner’s end of year percentage interests in the partnership’s profit, loss, and capital as reported for 2009 on Item J under the new method and as would have been reported under the method used in 2008.

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