10. Hippo Co. is a holding company. It holds all the shares of Opco. Shareholder H holds all the shares of Hippo Co. What should Opco be directed to do prior to its sale in order to minimize taxable capital gains? a. Transfer all assets to Hippo Co. before the sale D. Transfer all shares in Opco to Shareholder H prior to the sale c. Transfer all the shares of Hippo Co. to shareholder H prior to the sale d. Pay a tax free dividend to Hippo Co. from Opco prior to the sale 11. Which of the following statements regarding partnerships is true? a. Partnership income is taxed in the partnership. b. Partnership losses cannot be offset against the partners other income . Partnership income is included in a partner's income in the year of disbursement. d. Partnerships may earn business income, property income, and capital gains, 12. Yes Co. and No Co, are equal partners in Maybe Enterprises. The partnership has a net worth $210,000, split 50/50 between the two corporations. Decision Co. has been asked to join the partnership. When the transaction is complete, all three partners will have on equal interest In accomplish this structural change, Decision will contribute $ 105,000 to the partnership treasury. This transaction will a. dilute the original partners interests. b. increase the original partners Interests, C. restill in a capital gain for the partners. of result in a capital loss for the partners 13. Thomas Jefferson and Aaron Burr are equal partners in a partner salo million received the following income in Year 1: business income of $: 50,909, con el isiple dividends of 4jop0, and a capital gain off $10,000, Thomas withdrew $20,000 from the partnership during tearit alicia-con withdrew s2 096 Neither parthe has income from any other sources, which of the toposting is correct forthe Year !!!! taxation year.9. Thomas net income of tax purposes is s5pisocand Aarons is sat,ago b. Both patten's have a net income for tax purposes of57 9 500 c. Both partners have i net income for tax PU poses O1 518, C49 0. Both partners have a net income fortax purposes of Sep 090