Multiple Choice
How does a partnership make a tax election for the current year?
A) Partnerships make certain elections automatically by simply filing their returns.
B) Partnerships make certain tax elections by filing a separate form with the IRS.
C) Partnerships do not need to file anything to make a tax election.
D) Partnerships do not make tax elections. Partners must make tax elections separately.
E) Partnerships make certain elections automatically by simply filing their returns, and partnerships make certain tax elections by filing a separate form with the IRS.
Correct Answer:

Verified
Correct Answer:
Verified
Q50: On January 1, X9, Gerald received his
Q53: A general partner's share of ordinary business
Q62: The least aggregate deferral test uses the
Q64: Ruby's tax basis in her partnership
Q66: In what order are the loss limitations
Q68: On 12/31/X4, Zoom, LLC reported a $60,000
Q69: Alfred, a 33% profits and capital
Q83: Under general circumstances, debt is allocated from
Q88: Which of the following statements regarding the
Q106: Partners adjust their outside basis by adding