Flow-Through Entities: Partnerships, LLPs, and LLCs
TRUE-FALSE QUESTIONSCHAPTER 14
1. In a general partnership all the partners are classied as general partners, each of whom has unlimited
liability for the debts of the partnership.
The Sole Proprietorship and Individual Tax Return
TRUE-FALSE QUESTIONSCHAPTER 13
1. Only when an individuals itemized deductions exceed the standard deduction amount will taxable income
reduced by an expense that is deductible as an itemize
Tax Free Class Notes
Page 1 of 8
These notes are not stand alone ! They are intended for use in conjunction with the class
NON - CONCURRENT EXCHANGE SAFE HARBOR RULES
For: INDIVIDUAL TAX PAYERS
Who else can do Exchanges?
Corp., Partnership, LLC (all or no