Which of the Following Does Not Represent a Tax Election

question 60

Multiple Choice

Which of the following does not represent a tax election available to either partners or partnerships?

• A) Electing to immediately expense depreciable property under Section 179.
• B) Electing to amortize organization costs.
• C) Electing to expense a portion of syndication costs.
• D) Electing to change an accounting method.

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Definitions:

Limited Partner

An investor in a partnership who does not have managerial control and whose liability for the partnership's debts is limited to the amount they invested in the business.

ULPA

Ultra-Low Penetration Air (ULPA) filters, which are more efficient than HEPA filters at trapping extremely small particles.

General Partners

Individuals in a partnership who have unlimited liability for the debts and obligations of the partnership, and who manage the operations of the business.

Limited Partners

Investors in a partnership who are not involved in day-to-day management and are only liable for the investment they have made in the business.