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

Question

Quizplus · Accepted Answer

Partnerships can make certain tax elections either automatically by the way they file their returns or by submitting specific forms to the IRS for particular elections. This flexibility allows partnerships to choose the best tax treatment for their situation.

How Does a Partnership Make a Tax Election for the Current