Author Question: Losses are disallowed on sales or exchanges between a partner and the partnership if the partner ... (Read 66 times)

pepyto · **on:** Sep 13, 2020

Question 1

If partners having a majority interest in the partnership do not have the same tax year, the partnership uses the same tax year as all of its principal partners. Principal partners are those with 10% or greater interest in the partnership.
◦ true
◦ false

Question 2

Losses are disallowed on sales or exchanges between a partner and the partnership if the partner owns directly or indirectly more than a 50% interest in the capital or profits.
◦ true
◦ false

ynlevi · **Reply #1 on:** Sep 13, 2020

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