On Which Tax Form Do LLCs with More Than One

question 3

Multiple Choice

On which tax form do LLCs with more than one owner generally report their income and losses?

• A)Form 1120.
• B)Form 1120S.
• C)Form 1065.
• D)Form 1040, Schedule C.

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Definitions:

Probability

A measure of the likelihood of a specific event or outcome expressed as a ratio between 0 and 1.

Passengers

Individuals who travel in a vehicle but are not responsible for driving or navigating the vehicle.

Atlantic Ocean

The second-largest ocean body in the world, located between the Americas, Europe, and Africa.

Titanic

The British passenger liner that sank after hitting an iceberg on its maiden voyage in 1912, leading to significant loss of life.