Prentice Halls Federal Taxation 2015 Comprehensive
Quiz 10: Special Partnership Issues
A Partner's Holding Period for a Partnership Interest Is Never
A partner's holding period for a partnership interest is never considered when determining the holding period for property distributed in a liquidating distribution.
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The sale of a partnership interest always results in capital gain or loss rather than ordinary income.
When a retiring partner receives payments that exceed the value of that partner's partnership property,the excess payment is a guaranteed payment.
Under the check-the-box rules,an LLC with more than one member is taxed as a partnership unless it elects to be taxed as a corporation.
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