Fundamentals of Taxation 2017
Quiz 8: Rental Property,royalties,and Income From Flow-Through Entities Line 17,form 1040,and Schedule E
Entities Such as Partnerships,llcs,and S Corporations Are Known as Flow-Through
Entities such as partnerships,LLCs,and S Corporations are known as flow-through entities.
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Flow-through entities are named as such because they are taxed continuously.
Flow-through entities supply each owner at the end of the year with a Schedule E,indicating his/her income and expenses to report.
Flow-through entities file "informational returns."
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