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:

Liverworts

Liverworts are a group of non-vascular plants in the division Marchantiophyta, known for their liver-shaped gametophytes and role in early colonization of terrestrial environments.

Asexually

Reproduction without the combination of genetic material from two different parents, often involving a single organism reproducing by itself.

Archegonia

The female reproductive structure in ferns, mosses, and some conifers, where the egg cell is produced and fertilization occurs.

Gametangia

Specialized organs found in fungi and plants that produce gametes, the male and female reproductive cells.