Question: PLEASE PROVIDE ANSWERS FOR EACH QUESTION, AND PLEASE NO HAND WRITTEN ANSWERS.. DISCUSSION 1: Discuss the formation of a partnership. Is any gain or loss

PLEASE PROVIDE ANSWERS FOR EACH QUESTION, AND PLEASE NO HAND WRITTEN ANSWERS..

DISCUSSION 1:

Discuss the formation of a partnership. Is any gain or loss recognized? Explain.

How do taxation for the corporate form and taxation for the partnership form differ?

Can a partner have a salary from a partnership? Why? What is a guaranteed payment?

If a partner owns a 20% interest, does that necessarily mean that he or she will receive 20% of the net income from the partnership? Explain.

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