Multiple Choice
Which of the following statements regarding partnerships losses suspended by the tax basis limitation is true?
A) Partnership losses may be carried back 2 years and carried forward 5 years.
B) Partnership losses must be used only in the year the losses are created.
C) Partnership losses may be carried back 2 years and carried forward 20 years.
D) Partnership losses may be carried forward indefinitely.
Correct Answer:
Verified
Correct Answer:
Verified
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