The profit of a partnership is not taxed directly. Instead, each partner reports his or her share on his or her personal profit tax return.

Name: The profit of a partnership is not taxed directly. Instead, each partner reports his or her share on his or her personal profit tax return.
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In a partnership, profits are passed through to the partners, who then report their share of the profits on their individual tax returns, rather than the partnership itself being taxed.

The Profit of a Partnership Is Not Taxed Directly