Match the Following Attributes with the Different Forms

question 80

Multiple Choice

Match the following attributes with the different forms. A particular attribute may apply to more than one entity form.
-C corporation

• A)Ability of all owners to have limited liability.
• B)Ability to pass tax attributes through to the owners.
• C)Right of all owners to participate in the management of the business.
• D)Number of owners is limited.
• E)Ability to have multiple owners.

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Definitions:

Married Filing Separately

A taxation status allowing married individuals to submit separate tax returns, detailing their own earnings, deductions, and exemptions independently.

Moving Expense Distance

The minimum distance the new workplace must be from the taxpayer's old home to qualify moving expenses as deductible, according to IRS rules.

Old Residence

A taxpayer's former primary home or living place before moving to a new location.

Health Insurance Payments

Payments made by individuals or their employers to cover medical expenses and health care costs.