- 10. An individual who claims a deduction for qualified business income under $ 199A: a. Is more likely to have a penalty imposed for an error on the return than someone who does not claim this deduction b. Is less likely to have a penalty imposed for an error on the return than someone who does not claim this deduction - c. Is just as likely to have a penalty imposed as any other individual with an error on the retum. d. None of these 11. Which one of the following statements is true regarding a partner's personal liability for partnership assets? a. LLC members can never be liable for entity debts. b. In a limited partnership, all partners have limited liability for partnership debts. c. In a limited liability partnership, a partner might be subject to liability for other partners' malpractice. d. In a general partnership, all partners are liable for entity debts. e. None of these statements is true. 12. Mitch, an NRA, sells a building in Omaha for $1 million. His basis in the building is zero for both regular tax and AMT purposes. Mitch has no other contact with the United States other than the ownership of the building. How much Federal income tax is due from Mitch on the sale? a. $0, because Mitch is an NRA. b. The amount realized times the top individual tax rate. c. The net gain times the top capital gains tax rate. d. The net gain taxed at the lesser of the applicable regular or AMT rates