Question: A partnership is a separate taxable entity. TrueFalse b . A small business corporation may elect to be taxed similarly to a partnership. TrueFalse c

A partnership is a separate taxable entity.

TrueFalse

.

A small business corporation may elect to be taxed similarly to a partnership.

TrueFalse

.

Each partner reports his or her distributive share of the partnership's income and deductions for the partnership's tax year ending in or with the partner's tax year.

TrueFalse

.

The beneficiaries of estates and trusts generally are taxed on the income earned by the estates or trusts that is actually distributed or required to be distributed to them.

TrueFalse

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