Partnership profits or losses allocated to the partners retain their source and characteristics. What does this mean?

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“Partnership profits or losses allocated to the partners retain their source and characteristics.” What does this mean? How does this compare with the manner in which a corporation’s profits or losses affect its shareholders?

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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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Question Posted: Dec 19, 2015 04:31 AM

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Partnership profits or losses allocated to the partners retain their source and characteristics. What does this mean?

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Canadian Income Taxation Planning And Decision Making

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