Which of the following is correct regarding a company's legal entity type and the tax form it must file with the IRS?
A)Sole Proprietor - Form 1065
B)Partnership - Form 1120
C)C Corporation - Form 1120S
D)Sole Proprietor - Form 1040 Schedule C

Question

Quizplus · Accepted Answer

Sole proprietors should file Form 1040 Schedule C with their personal tax return to report business income and expenses. Form 1065 is for partnerships, Form 1120 is for C corporations, and Form 1120S is for S corporations.

Which of the Following Is Correct Regarding a Company's Legal