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Chapter 14, problems 1, 3, 12, and 15.
1. Discuss the formation of a partnership. Is any gain or loss
recognized? Explain.
3. How do taxation for the corporate form and taxation for the
partnership form differ?
12. Can a partner have a salary from a partnership? Why? What is a
guaranteed payment?
15. 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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ACC 401 Week 5 DQ 2 Corporate taxation
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Chapter 15, problems 4, 6, 14 and 16.
4.Explain the 80% rule as it pertains to the formation of a corporation.
6.An individual contributes property with a fair market value in excess
of basis to a corporation in exchange for stock. What is the basis of the
stock in the hands of the shareholder, and what is the basis of the
property contributed in the hands of the corporation?