ACC 401 Week 5 DQ 2 Corporate taxation
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?
14. A corporation may make a distribution to its shareholders. Depending on the circumstances, in the hands of the shareholder,