The least aggregate deferral test uses the profit percentage of each partner to determine the minimum amount of tax deferral for the partner group as a whole.
Correct Answer:
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Q1: A general partner's share of ordinary business
Q4: The character of each separately stated item
Q5: Partners must generally treat the value of
Q6: Income earned by flow-through entities is usually
Q6: Partners adjust their outside basis by adding
Q7: Tax elections are rarely made at the
Q8: A partner's outside basis must first be
Q10: An additional allocation of partnership debt or
Q17: Adjustments to a partner's outside basis are
Q20: A partnership can elect to amortize organization
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