A family partnership can shift taxable income to younger family members only if these family members own a partnership interest.

Name: A family partnership can shift taxable income to younger family members only if these family members own a partnership interest.
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Question

Quizplus · Accepted Answer

To shift taxable income to younger family members, they must own a partnership interest and receive a portion of the partnership's profits. Without owning a partnership interest, they cannot receive this tax benefit.

A Family Partnership Can Shift Taxable Income to Younger Family