Which of the following statements regarding a sole proprietorship is false?
A)A sole proprietorship is an unincorporated business operated by one individual.
B)Taxable income from a sole proprietorship is reported on Schedule D of the proprietor's individual income tax return.
C)Sole proprietors are entitled to deduct 50 percent of self-employment tax paid.
D)None of the above statements are false.

Question

Quizplus · Accepted Answer

Taxable income from a sole proprietorship is reported on Schedule C, not Schedule D, of the proprietor's individual income tax return.

Which of the Following Statements Regarding a Sole Proprietorship Is