[Texan_Stuck_In_OK]

I’m good with using 30 day months for performing calculations, but when a question specifically states that it is a 365 day year, I assume that we use actual days in a month. And my assumptions are wrong. One of the practice questions stated a 365 day year and when I figured the days in the three months it came to 92, but there wasn’t an answer for that solution, so I changed it to a 90 day three month period and got the right answer. Is is safe to assume 30 day months for questions even if given a 365 day year?

The question was concerning short year income on an S corp that lost that status.

Thanks!

A 88, B 76, F 84, R 76 Passed 2014

Licensed in OK

[jgmart04]

I think that's a safe assumption. The exam tries to negate that gray area and actually states the number of days rather than months. Just something to ease your mind.

[Author]

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