Which of the following is not a characteristic of both S corporations and partnerships?
A)Both are flow through entities
B)Owners increase basis for debt undertaken by S corporation or partnership
C)Both forms limit owner's participation in tax-free fringe benefits
D)Owner's increase basis for gains and decrease basis for losses

Question

Quizplus · Accepted Answer

The Answer of Which of the following is not a characteristic of both S corporations and partnerships?
A)Both are flow through entities
B)Owners increase basis for debt undertaken by S corporation or partnership
C)Both forms limit owner's participation in tax-free fringe benefits
D)Owner's increase basis for gains and decrease basis for losses

Which of the Following Is Not a Characteristic of Both