How does a partnership make a tax election for the current year?
A) Partnerships make certain tax elections by filing a separate form with the IRS.
B) Partnerships do not make tax elections. Partners must make tax elections separately.
C) Both Partnerships make certain elections automatically by simply filing their returns and Partnerships make certain tax elections by filing a separate form with the IRS.
D) Partnerships make certain elections automatically by simply filing their returns.
E) Partnerships do not need to file anything to make a tax election.

Question

Quizplus · Accepted Answer

Partnerships make certain tax elections by filing a separate form with the IRS, such as Form 1065 or Form 8832. However, partnerships may also make certain elections automatically by simply filing their returns. It is important for partnerships to understand which tax elections they need to make and how to properly file them to ensure they are in compliance with IRS regulations.

How Does a Partnership Make a Tax Election for the Current