1- income from an s corporation is taxed

a- always at the shareholder price

b- always at the corporate level

c- always at both the shareholder level and the corporate level.

d- at the shareholder level, but only if it is distributed to the shareholder.

2- Income from an S corporation is eligible for the new Section 199 deduction with no limits if:

a- Taxable income is greater than $415,000 if married filing jointly and is a specific trade or business.

b- Taxable income is less than $157,000 (single) and it is qualified to trade or business.

c- Income from the S corporation is below $225,000

d- none of the above are true.

e- All of the above is true.

3- Income from the S corporation is eligible for the new Section 199 deduction if:

a- Taxable income is below $315,000 if MFJ and the company is a qualified business.

b- Adjusted gross income is above $200,000 if single.

c-Income from the S corporation is below $225,000

d- none of the above are true.

e- All of the above are right

4- Income from A schedule C is eligible for the new Section 199 deduction with no limit if:

a- Taxable income is greater than $157,500 if single and is specified trade or business.

b- Taxable income is less than $415,000 if married filing jointly and is a specific trade or business.

c-Income from the S corporation is below $225,000

d- none of the above are true.

e- All of the above are right.

5- Which of the following is not a separately stated item for the partnership return?

a- Rented income.

b- Guaranteed payments

c- Interest expense.

d- Interest income.

e- All of the above are separately stated items.