Which One of the Following Statements Regarding Partnership Taxation Is

question 27

Multiple Choice

Which one of the following statements regarding partnership taxation is incorrect?

• A) A partnership is not a taxable entity for Federal income tax purposes.
• B) Partnership income is comprised of ordinary partnership income or loss and separately stated items.
• C) A partnership is required to file a return with the IRS.
• D) A partner's profit-sharing ratio equals the partner's loss-sharing ratio.
• E) All of these statements are correct.

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