A partnership must provide any information to the partners that they would need to calculate deductions not permitted at the partnership level, such as for oil and gas depletion or the corporate dividends received deduction.

Question

Quizplus · Accepted Answer

Partnerships are required to provide partners with the necessary information to calculate deductions and credits not permitted at the partnership level, including specific deductions like oil and gas depletion or the corporate dividends received deduction, to ensure partners can accurately report their share of income and deductions on their individual tax returns.

A Partnership Must Provide Any Information to the Partners That