The primary purpose of a partnership tax return is to determine the income,deduction,loss and credit items of the partnership and thus the amounts that should be reported by the individual partners.

Question

Quizplus · Accepted Answer

The primary purpose of a partnership tax return is to determine the income, deduction, loss, and credit items of the partnership and allocate them to the individual partners. This allows the partners to report their share of the partnership's income or loss on their own tax returns.

The Primary Purpose of a Partnership Tax Return Is to Determine