MP Fundamentals of Taxation 2015
Quiz 8: Rental Property, Royalties, and Income From Flow-Through Entities
Royalties can NOT be earned from which of the following? A) oil wells. B) patents. C) coal mines. D) stocks.
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Royalties can be earned from allowing others the right to use: A) patents. B) plays. C) songs. D) all of these.
Royalties can be earned from allowing others the right to use: A) Building. B) Equipment. C) Furniture. D) Copyrighted material.
Which of the following is not considered a flow-through entity? A) Limited liability company. B) Sole proprietorship. C) Partnership. D) S corporation.
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