1. Partnership losses flow through to the partners. Which of the following is a limitation to the deductibility of these losses at the partner level?

Group of answer choices

a. Outside basis limitation

b. At-risk basis limitation

c. Passive losses limitation

d. All of the above are limitations

2. Separately-stated items of income, deductions, tax credits, etc. from flow-through entities are separately stated because they are subject to floor and ceiling limitations, special tax rates, etc. at the owners' level.

Group of answer choices

True

False

3. An example of a book-tax timing difference is tax exempt income.

Group of answer choices

True

False