Special allocations of income and loss are not allowed for which of the following types of entities?
A)Limited liability partnerships.
B)Limited liability companies.
C)S Corporations.
D)General partnerships.
E)None of the above.

Question

Quizplus · Accepted Answer

S Corporations are limited to having just one class of stock and are not allowed to allocate income or losses in a special way. Limited liability partnerships, limited liability companies, and general partnerships are all allowed to have special allocations of income and loss.

Special Allocations of Income and Loss Are Not Allowed for Which