ACC 401 Week 5 DQ1 Partnership Taxation

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ACC 401 Week 5 DQ1 Partnership Taxation

Partnership Taxation. From Chapter 14, complete questions 1, 3, 12, and 15.

  1. Discuss the formation of a partnership. Is any gain or loss recognized? Explain.

  2. How does taxation for the corporate form and taxation for the partnership form differ?

  3. Can a partner have a salary from a partnership? Why? What is a guaranteed payment?

  4. If a partner owns a 20% interest, does that necessarily mean that he or she will receive 20% of the net income from the partnership? Explain.

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