Which of the Following Statements Is True About Taxes in a Limited

question 69

Multiple Choice

Which of the following statements is true about taxes in a limited partnership?

• A) Limited partners are not double taxed, but general partners are.
• B) Both limited partners and general partners pay taxes on their share of the profit.
• C) Both limited partners and general partners are double taxed.
• D) General partners, but not limited partners, pay taxes for profits of the partnership.
• E) Both limited partners and general partners are double taxed, however, the amount of tax liability by limited partners is capped.

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