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