Which of the following is false regarding partnership taxation? OA 50% change in ownership with...
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Which of the following is false regarding partnership taxation? OA 50% change in ownership with a 12 month period terminates the partnership. O Income earned by the partnership is taxable income to the partners regardless of whether or not the income was distributed. OA partners basis in his/her partnership interest can limit whether the partners is able to deduct the loss on his/her return from other sources of income. Electing Large Partnership status requires more income/loss items to be separately stated for the partners
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