The partner (rather than the partnership) will make which of the following elections?
A) To claim straight-line depreciation.
B) To claim a credit or deduction for foreign taxes paid.
C) To claim a low-income housing credit.
D) To claim a § 179 deduction for certain property placed in service during the year.
E) All of these elections.

Question

Quizplus · Accepted Answer

The partner makes the election to claim a credit or deduction for foreign taxes paid, not the partnership. This is because the tax implications of foreign taxes paid can affect each partner differently, depending on their individual tax situations. Other elections listed are generally made at the partnership level.

The Partner (Rather Than the Partnership) Will Make Which of the Following