An S corporation's separately stated items are identical to those separately stated by partnerships.

Name: An S corporation's separately stated items are identical to those separately stated by partnerships.
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Question

Quizplus · Accepted Answer

An S corporation's separately stated items, including income, deductions, and credits, are reported on the K-1 form for each shareholder. These items are similar to those separately stated by partnerships on the K-1 form for each partner. Therefore, the statement is true.

An S Corporation's Separately Stated Items Are Identical to Those