Which of the Following Taxpayers Use a Schedule K and K-1

question 2

Multiple Choice

Which of the following taxpayers use a Schedule K and K-1 to pass through income,loss,and credit amounts to the owners or beneficiaries?

• A)Partnership.
• B)Trust.
• C)S corporation.
• D)All of the above taxpayers use Schedule K and K-1.

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Definitions:

Insurer

A company that provides insurance policies to individuals or entities, offering financial protection against specified risks.

Common Carrier

A company or entity that provides transportation services to the general public under the regulation of government authorities.

Damaged Goods

Items that are physically harmed, impaired, or lessened in quality, making them less valuable or undesirable.

Act of God

A legal term for natural events outside of human control, such as floods or earthquakes, which cannot be predicted or prevented.